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EnDevCo Adds New Pay Zone in Short Junction Field Market Wire - May 4, 2006 9:35 AM (EDT)
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HOUSTON, TX, May 04, 2006 (MARKET WIRE via COMTEX) -- EnDevCo, Inc. (OTC BB: ENDE), the Energy Development Company, announced today the discovery of a "new pay zone" in Short Junction Field. The #1 E. Kelly (WSJU #44) well was completed this week in the Prue sand formation, pumping oil at a rate of 30 barrels per day from approximately 17 feet of pay sand. "The Prue sand is a prolific oil producer in the Airport Trend less than three miles away where several wells have produced over 150,000 barrels each. This is a significant discovery as it is the first time production has been established in the Prue sands in the Short Junction Field and could potentially add in excess of one million barrels of proven behind pipe reserves", said Dick Boyce, Chief Operating Officer.
EnDevCo has mapped several significant Prue sand channels crossing the Short Junction Field and has identified at least 25 additional wells that have log character similar to the WSJU #44 well, that indicate oil pay behind pipe. The Company is planning additional completions in those wells that penetrate the same pay zone in an attempt to immediately increase its proved reserves.
Additionally the Company has filed permits, to begin operations to wash down the #2 E.S. Rowland "A" well (WSJU #196) to attempt a completion in the Skinner sand at a position directly offsetting Skinner gas production established last year by Dominion Exploration and Production Company in their #1-28 Rowland well. The EnDevCo #2 E.S. Rowland "A" well will test the Skinner sand approximately 100 feet high to the gas production already established in the offset well.
This press release includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives, and goals of EnDevCo, Inc. management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include, but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. The forward-looking statements contained in this report are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.
EnDevCo, Inc. is a dynamic and growing energy company establishing an identity consistent with its business development activities. EnDevCo maintains offices in Houston and Dallas, Texas. For more information on EnDevCo visit www.endevcoinc.com.
Contact: Chris A. Dittmar CEO 713-977-4662 cdittmar*endevcoinc.com
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