Laguna Beach, Calif., March 27, 2006 - Am-Tex announces the drilling of a new developmental well to 11,500 feet in the Red Rock Prospect in Webster Parish, Louisiana. The drill site lies almost exactly in the middle between and in the same formation as the Crow, Haynes unit #1 and the Amoco, Ipco #2-A.
In its first five years of production the Crow well averaged over 2.0 MMCF of gas and 88 BC per day. At today's prices this equates to a monthly income of $2,514,000. In the first five years of production the Amoco well averaged over 1.6 MMCF of gas per day and 27 BC per day. At today's prices, this equates to a monthly income of $1,062,000.