Wild Brush Energy's Wyoming Oil &Amp; Gas Update
Posted on: Wednesday, 19 April 2006, 12:00 CDT
Wild Brush Energy (OTC: WBRS) has secured the rights to a total of six Federal Oil & Gas Leases within the State of Wyoming. The Company will primarily focus on the four oil & gas property acquisitions within the Powder River Basin region of Wyoming.
The Powder River Basin boasts a high success rate of profitable discoveries; this has given the Company great confidence in further potential property evaluation and acquisition. Wild Brush's primary business strategy is focused on the exploration, acquisition, and expansion of low risk high reserve projects with significant resource potential in this Basin area.
Wild Brush also has one lease located in Wyoming's Green River Basin. According to the Bureau of Land Management, this Basin contains over one billion barrels of recoverable oil and 43.6 trillion cubic feet of recoverable natural gas.
The Company's sixth lease is located in the Bighorn Basin region of Wyoming State. This region is one of the most active natural gas areas in the state of Wyoming. Exploration and refinery operators include companies such as ExxonMobile, Western Gas, and Duke Energy.
Powder River Basin
This Basin has an estimated at 32 trillion cubic feet of natural gas. Nearly 100 wells are being drilled each week, and estimates for a fully developed basin are at almost 100,000 wells. Within the last ten years, this has been the largest onshore natural gas play in North America.
Proved reserves of natural gas in Wyoming are at an all time high of nearly 19 trillion cubic feet, while proved reserves of crude oil are close to 500 million barrels. Collectively over 26,000 wells produced 54.7 million barrels of oil and 1.75 trillion cubic feet of natural gas in Wyoming State annually.
About Wild Brush Energy Inc.
Wild Brush Energy is a diversified energy company whose primary goal is to identify and develop Oil & Coalbed Methane sites within the State of Wyoming. In addition, Wild Brush Energy continues to evaluate clean air alternative energy producing technologies such as Wind Power. Wild Brush trades in the U.S. under the symbol "WBRS."
Safe Harbor for forward-looking statements
This release contains certain statements that are "forward-looking" statements (as the term is defined in the Private Securities Litigation Reform Act of 1995). Any such forward-looking statements are inherently speculative and are based on currently available information, operating plans and projections about future expectations and trends. As such, they are subject to numerous risks and uncertainties, such as general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, and other factors over which Wild Brush Energy Inc. has little or no control. Actual results and performance may be significantly different from expectations or trends expressed or implied by such forward-looking statements. Wild Brush Energy Inc. expressly disclaims any obligation to update the statements contained in this release.
Contact: Wild Brush Energy Inc. 1-206-652-3310 Investor Relations: 1-866-683-8600 Contact via http://www.marketwire.com/mw/emailprcntct?id=F98C54B9CFE453D6 www.wildbrushinc.com
SOURCE: Wild Brush Energy Inc.
Source: MARKET WIRE
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