posted
WINSTON-SALEM, NC -- (Marketwire) -- 10/24/08 -- Atlas Oil and Gas, Inc. (OTCBB: ATOG) announces the completion of drilling on its first oil well. The completion marks the end of drilling and the beginning of the oil production phase.
The well is located in Pawnee County, Oklahoma and is named Eric Foust #1-9. Production numbers will be forth coming as the site operator releases them.
"We at Atlas are very excited about completing the drilling process," stated Dan Motsinger, Atlas CEO. "We are very happy that we are moving so diligently toward our goals."
About Atlas Oil and Gas, Inc.
Atlas Oil and Gas, Inc. is focused on developing shallow natural gas and oil wells in Northeastern Oklahoma. Atlas is an independent energy development firm primarily engaged in the exploration, development, and production of oil and natural gas. The company relies upon its industry partners, well operators, third party geologists, industry consultants, petroleum engineers, and financial analysts whose combined industry experience is essential to the success of each project. With the growing demand on oil and natural gas in the United States, Atlas will focus its resources on accomplishing its goal of successful well creation and distribution.
Cautionary note: This report contains forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.
Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
posted