Fidelis Reports 'Archer-Whitney #1' Gas Well Production for June - 'Archer-Wildlands' Well Nears Total Depth
06 7월 2005 - 5:05AM
Business Wire
Fidelis Energy Inc. (OTCBB: FDEI), today announced that the June
gas production at the "Archer-Whitney #1" well at the company's
North Franklin gas reservoir totaled 44.859 Mmcf for the 30 days in
June. The average daily production was 1.50 Mmcf per day. The
second well, "Archer-Wildlands #1," today is nearing and should
reach the total depth of 8,000 feet. The company expects that the
well is to finish this evening and a suite of well logs will be run
and available for review on July 6. Fidelis will endeavor to report
drilling results as soon as they are available. Fidelis receives
PGE-Citygate gas pricing from North Franklin production, which on
July 1 was in the $6.13 per Mcf range. NYMEX natural gas futures
have risen to between $7.17 and $8.82 for 2005-2006, giving Fidelis
an indication of what future gas production revenue may be during
the upcoming months. About Fidelis Energy Inc. Based in Tucson,
Ariz., Fidelis Energy is an oil and gas company dedicated to
solving North America's complex energy problems. Fidelis Energy
identifies, acquires and develops working interest percentages in
smaller, underdeveloped oil and gas projects in California, Canada,
and other promising locales that do not meet the requirements of
larger producers and developers. Through the use of modern
development techniques such as horizontal drilling and 3-D seismic,
the company enhances production from underdeveloped and
underutilized projects, as it pursues oil and gas production
throughout North America. Safe Harbor for Forward-Looking
Statements Except for statements of historical fact, the
information presented herein constitutes forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of the company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include general economic and business
conditions, the ability to acquire and develop specific projects,
the ability to fund operations and changes in consumer and business
consumption habits and other factors over which Fidelis Energy Inc.
has little or no control. For more information, please visit our
Web site at www.FidelisEnergy.com, or contact: Investor Relations
888-894-3334 (Contact: William Marshall).
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