Second PR of the day from ** KTNV **; they have been meeting with brokers I believe; looks like they are getting serious
(COMTEX) B: NEW ASPEN GROUP COMPLETION FLOWING 1.4 MILLION CUBIC FEET
B: NEW ASPEN GROUP COMPLETION FLOWING 1.4 MILLION CUBIC FEET OF NATURAL GAS PER
DAY HIGHLIGHTS * ASPEN GROUP COMPLETES THE CALLAWAY #4-23 IN Stephens Co.,
Oklahoma * Initial Flow Rate of 1,400 MCF of Gas per Day * The Well Is
Producing 14 Barrels of Oil per
OKLAHOMA CITY, Mar 10, 2000 /PRNewswire via COMTEX/ -- Jack E. Wheeler,
Chairman, President and CEO of Cotton Valley Resources Corporation (OTC
Bulletin Board: KTNV) (CDN: CVZC), today announced the Company
participated in the successful completion of the Callaway #4-23 in
Stephens County, Oklahoma. The well was completed in the geological
formation known as the Hoxbar / Briscoe at a depth of approximately 7,
800 feet.
The Company owns a 12.42% working interest in the well with first sale
of gas occurring on February 11, 2000 at a rate of 1,400 MCF of gas per
day through a 13/64" choke with flowing tubing pressure of 1,125 pounds
per square inch. Questar Exploration & Production Company operates the
Callaway #4-23.
"The Callaway will very quickly become an important contributor to
Aspen Group's cash flow and to our reserve position," stated Mr.
Wheeler. "We can look forward to many more successes like the Callaway
as we continue the development of our property inventory."
Aspen Group Resources Corporation is an oil and gas exploitation,
production and development company based in Oklahoma City. The Company
currently owns interests in more than 500 wells and an equivalent
number of offset locations in eight states but with a predominant focus
in Oklahoma and Texas.
The information in this news release includes certain forward-looking
statements as defined in the "Safe Harbor" provision of the Private
Securities Litigation Reform Act of 1995. These statements are based
upon assumptions that are subject to significant risks and
uncertainties. Although the Company believes that the expectations
reflected in forward-looking statements are reasonable, it can give no
assurance that the expectations of any of its forward-looking
statements will prove to be correct.
SOURCE Aspen Group Resources Corporation
(C) 2000 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: Jack E. Wheeler, Chairman, President and CEO, 405-606-8500; or
Michael A. Branch, Director of Communications, both of Aspen
Group Resources
Corporation, 405-767-9185
WEB PAGE: asgrc.com
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