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I agree, lots of buying going on. Breaking 52wk High as we speak. Smell the green, Posts: 443 | From: Honolulu, HI | Registered: Jan 2004
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Press Release Source: Micron Enviro Systems, Inc.
Micron Enviro Systems, Inc. Announces Current Revenue to Increase by over 500% Due to Major New Oil Discovery Monday January 24, 7:00 am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 24, 2005--Micron Enviro Systems, Inc. ("MSEV") (OTCBB:MSEV - News) is extremely pleased to announce that the Enchant Well in Alberta, Canada has been put on line for sales. Anadarko Canada is receiving the production fluid and the well is now flowing at approximately 49 barrels of oil per day. The operator of the well feels that with a chemical stimulation, the well could flow at an even higher rate. An extensive plan is now being devised to fully exploit this prospect in the near future. MSEV holds a substantial 50% working interest in this major new discovery, which has effectively increased MSEV's current total daily oil and gas production by over 500%. ADVERTISEMENT
Bernie McDougall, president of MSEV stated, "This is the best day in MSEV's history. To effectively increase our current daily revenue by over 500% from a single well is a huge step forward for MSEV. This is the type of growth that management and shareholders have been waiting for. We are proud to have this caliber of results and we are looking forward to what will come from this entire field. This prospect could be a company maker that enables MSEV to achieve its goal of becoming a mid-range oil and gas producer. The last time MSEV was able to announce drilling results for a Canadian prospect the shares traded from 2.7 cents to a high of 8.7 cents within two days, and traded over 24,500,000 shares on each of those two days. This occurred when the company had only four wells in production compared to 16 wells currently, no marketing campaign versus an active marketing campaign, and oil and gas prices were at much lower levels than today. This is easily the most exciting time in MSEV's history and with additional drilling results from Texas pending, we are looking forward to the near and long term growth of MSEV." Operations on the Stuart 60# 8 Well in Texas are progressing as scheduled. The operator reports that if all goes according to schedule, the well will be ready to be fraced within days. This is the first of the remaining three wells to be worked on. The first five wells on this prospect were all successfully drilled. The cost for these three wells has already been paid. Initial results from the Stuart 60 #8 Well are expected within two weeks. The two other wells on this prospect are expected to commence operations as soon as the Stuart 60# 8 Well is completed.
MSEV is making a more concerted effort to market itself to prospective shareholders. The marketing campaign has commenced and will be occurring throughout the coming months as drilling results from the Texas and Canadian prospects are announced.
MSEV is an emerging oil and gas company that has both oil and gas producing properties. MSEV's goal is to become a mid-range oil and gas producer that focuses on the exploration, discovery and delivery of gas and oil to the North American marketplace. MSEV currently has 16 independent sources of oil and/or gas revenue. MSEV's production is from ten oil wells in Canada, and six wells producing oil and/or gas wells in Texas. MSEV is presently involved in multiple oil and gas prospects, and continues to look for additional projects that would contribute to building MSEV's market capitalization.
If you have any questions, please call MSEV at (604) 646-6903. If you would like to be added to MSEV's update email list, please send an email to info@micronenviro.com requesting to be added.
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, volatility of oil and gas prices, product demand, market competition, and imprecision of reserve estimates, and actual ability to recover oil and gas that is present or represented to the company by the operator. For all details regarding working interests in all of MSEV's oil and gas prospects or any previous news releases go to the SEC website. You should independently investigate and fully understand all risks before making investment decisions.
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