KISS News Release
Monday September 13, 10:28 am Eastern Time
Company Press Release
SOURCE: Kismet Energy Corporation
Kismet Energy Corporation and the JV Partner Make
Plans to Drill a Second Well at Lake Wells Prospect After
a Significant New Natural Gas Discovery in the Arkoma
Basin, Oklahoma
BAKERSFIELD, Calif., Sept. 13 /PRNewswire/ -- Kismet Energy Corporation (OTC Bulletin
Board: KISS - news; the ``Company') is pleased to announce that the operator is proposing to drill
a second well at Lake Wells Prospect after making a significant new natural gas discovery in the
Arkoma Basin, Oklahoma.
Kismet Energy has a 70% working interest in the Lake Wells Prospect which lies in the giant Kinta
Field area. The second well, Wells Lake #1-21, will be drilled to a total depth of 5,400 feet and will
test multiple natural gas zones. Major zones to be tested are Spiro A, Spiro B, Cromwell, Hunton
and Viola. The JV partners have been informed by the drilling company that a rig is available on
September 25, 1999. Reserves associated with this prospect are expected to be over 20 bcf.
Negotiations with pipeline companies are underway to connect production from first well which is
tested on a 22/64 inch choke flowing over 1.5 million cubic feet of gas per day. Kismet Energy's
significant natural gas discovery in the Arkoma Basin will lead to generation of cash flow and an
increase in shareholder value.
The Company
Kismet Energy Corporation is an oil and gas exploration and development company with offices in
Alberta, Canada and Bakersfield, California. Kismet Energy has approximately 8.5 million shares
outstanding fully diluted including 2.4 million shares held by management.
Further information can be obtained from the Company's website: www.kismetenergy.com .
This press release contains forward-looking statements as defined by the Private Securities Litigation
Reform Act of 1995. While the Company's expectations, beliefs and projections are expressed in
good faith and are believed to have a reasonable basis, actual results may differ materially. Important
factors that could cause actual results to differ materially from those in the forward-looking
statements include federal and state regulatory actions and developments, the timing and extent of
changes in commodity prices and the timing and extent of success in discovering, developing and
producing or acquiring oil and gas reserves.
For further information, please contact company officials at 1-888-722- 1295. For investor
relations, contact Marie Antoinette Shields at 1-604-605- 3102.
SOURCE: Kismet Energy Corpor |
