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DPRK - Deep Rock Oil & Gas, Inc. Makes Additional Gas Lease Acquisition Adjacent to Washington Gathering System Tuesday November 8, 4:05 pm ET Revenues from New Drilling on the Lease Anticipated at $1,500,000 Annually
TULSA, Okla., Nov. 8, 2005 (PRIMEZONE) -- Deep Rock Oil & Gas, Inc. (Other OTC:DPRK.PK - News) announced today that it has finalized the acquisition of nearly 400 acres adjacent to the Washington Gathering System in northern Oklahoma. This acquisition is complete with a saltwater disposal well and has the potential for drilling up to 8 new well sites. ADVERTISEMENT
If all 8 wells are drilled and completed, it is projected to add nearly 75,000-100,000 MCF of gas delivery rates per well with a completion cost per well estimated at $75,000. Robert Garner, CEO commented, ``We are pleased with the completion of this latest acquisition as it is further evidence that we are successfully implementing our business plan. Additionally, we are always excited to bring news like this to our shareholders.'' Gross revenues could reach an additional $1,500,000 annually with an additional increase in gross gas reserves of 4 BCF.
About Deep Rock Oil & Gas, Inc.
Deep Rock Oil & Gas, Inc. (``Deep Rock or the Company''), is an oil and natural gas exploration and production company and currently has working interests in 33 wells, ten of which are operated by the Company. By utilizing advanced recovery technologies, sound engineering and experienced and committed management, Deep Rock has developed a proven corporate growth strategy of identification, acquisition and development of domestic oil and gas reserves thereby reducing U.S. dependence on foreign oil.
Safe Harbor Statement
Certain statement included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words ``plan,'' ``expect,'' ``believe,'' and similar expressions are generally considered forward-looking statements. These statements reflect our current expectations.
Contact: Deep Rock Oil & Gas, Inc. Robert Garner (918) 459-9689
-------------------------------------------------------------------------------- Source: Deep Rock Oil & Gas, Inc.
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the volume is picking up and the bid support just jumped from .31 to .35 with the ask now .38 and a break of .40 should move this nicely.
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