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Press Release Source: Eldorado Exploration, Inc.
Eldorado to Drill in Texas Thursday July 27, 1:05 pm ET
IRVINE, Calif.--(BUSINESS WIRE)--July 27, 2006--Eldorado Exploration Inc. (PINK SHEETS:EDEX - News) announced today that it will join its partners to drill a Passive Induced Polarization (PIP) identified location in Hardeman County, Texas, to test a Mississippian Dolomite Reef at 8700'. The nearest well in the reef is 1.5 miles away and has produced over 390,000 BBLS. Drilling is expected to begin by the end of August. ADVERTISEMENT
Eldorado Exploration Inc. is an independent oil and gas company that utilizes a process called Passive Induced Polarization (PIP) to detect electromagnetic signals given off of some geological anomalies. In most cases a positive response indicates a hydrocarbon accumulation and a negative reading almost is always a dry hole. When used with the standard geological tools and methods, the PIP process enhances the odds of success for discovering oil and gas.
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that Eldorado Exploration is a non-reporting Pink Sheets company and is not required to be registered with the Securities and Exchange Commission.
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