Heartland Oil and Gas Post Record Revenues from Gas Sales in January - Production Enhancement Projects Continue Tuesday March 4, 5:20 am ET
SPRING HILL, Kan.--(BUSINESS WIRE)--During January 2008, Heartland Oil and Gas Corp. (OTC BB: HTOG - News) (FWB: HOCA) generated revenues from the sale of natural gas in excess of $137,000 from its properties in Texas and more than $81,000 from its coal bed methane fields in Kansas. Even without the sale of any oil during the month, these revenues far exceed any amount previously reported by Heartland. ADVERTISEMENT
In addition to this expanding revenue, Heartland continues its four pronged production enhancement efforts by accelerating the construction of a 4 ˝ mile pipeline to connect 12 wells in its Jake Coal Bed Methane Field and commencing the application of its two-stage well recompletion program to 16 of its existing wells in Kansas as well as pursuing negotiations to acquire a connection to a low pressure pipeline in order to bring more wells online in its Palo Pinto Field and undertaking a well recompletion program in its Catlin Field in Northern Texas.
While the revenues from Texas result from the transfer of producing wells from Heartland’s parent, Universal Property Development and Acquisition Corporation (OTC BB: UPDA - News) (FWB: UP1), the production generated in Kansas results from the drilling of new wells and the enhancement of wells from Heartland’s vast acreage in Eastern Kansas.
“Our efforts continue to show impressive success,” remarked Heartland CEO Kamal Abdallah. “The revenues in January did not even include any oil sales yet we have posted numbers in Kansas alone that are more than double any previous results. With the new pipelines and connections we are working on and the well improvements that are bringing more production from each well completed, we expect continuing improvement in our numbers.
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