Here is latest press release from AXPL, everyone involved in LMX as
a shareholder or manager should be very interested in this as we are
no entering the oil/gas game....yes, i am also a shareholder in AXPL & expect to make a fortune on it over the next few years...text of release follows:
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Dear RedHotStocks Subscribers,
Hello!
We've got news and commentary on all three of our picks and we'll review
each in the order we first profiled them: AXPL, NTSA, and NEOT. We'll also
make every effort to be as succinct as possible.
AXPL: Judging by Amalgamated's most recent news release (further down) it
appears that the Company is actually making a prediction of the results of a
well before the well is even drilled. As the news release states, they
expect to find pay zones at depths of 4500 and 5400 feet. If the well comes
in in the manner they have predicted, we'll be flabbergasted if the stock
does not jump at least a couple points.
Besides that, it appears that they will post daily drilling progress on
their web site at findoil.com. To keep you all from suffering
RedHotStocks overload, we'll only mail you the final results of the
drilling. These next two weeks should be VERY interesting.
AXPL also lists several properties they have small interests in that will be
drilled in the near future. Each of these wells, according to the news
release, will be subject to electrotelluric survey before the dirt flies
which, if they are dead on, will prove everything we've been claiming: that
AXPL will be a winner based on the value of their properties ALONE, and that
the company can be assured of unprecedented success in land acquisition and
wildcatting. (Wildcatting being the practice of "drilling where no man has
drilled before"- in other words, drilling cheap, high-risk properties with
the hoping of hitting big.)
Here's the Amalgamated news release:
Amalgamated Explorations Predicts Pay Zones Prior to Drilling
Amalgamated Explorations is pleased to release further information
pertaining to the Company's March 17, 1997 news announcement of exploratory
drilling in Oklahoma.
Ingram Explorations, Inc. of Seminole, Oklahoma will commence the drilling
on the Cash Corner prospect during the week of April 14, 1997. This site has
been subjected to extensive testing with Amalgamated's electrotelluric
survey, which consistently detected anomalies in electromagnetic fields at
frequencies of 1200 and 1400 hertz. Such anomalies are indicative of the
presence of hydrocarbons, with the frequencies corresponding to depths of
4500 and 5400 feet, respectively. The first well will be drilled to a depth
of 5700 feet and Amalgamated officials predict that hydrocarbons will be
found in the Red Fork formation at 4500 feet and in the Wilcox formation at
5400 feet.
Amalgamated Explorations, Inc. has a two-percent working interest in the
test well and 966 acres in the immediate area.
Drilling is scheduled to commence today.
Photos of the electrotelluric device with examples of test result printouts
are posted on the Company's web site at findoil.com
. The web site will be updated with daily drilling reports until the well is
completed.
Other wells to be drilled with Amalgamated's participation include locations
in Wyoming and Utah.
In Natrona County, Wyoming, Amalgamated plans to join Barrett Resources
Corporation in a deep test development well in the Cave Gulch field. The
Cave Gulch Federal #1-29 (Lak) is scheduled to be drilled to a depth of
18,150 feet in order to test eight prospective pay zones from 16,000 to
18,000 feet. Barrett Resources has filed an application with the Oil and Gas
Conservation Commission of the state of Wyoming requesting a 640-acre
drilling unit. Amalgamated will have a 1.46% working interest on the $7.6
million project. Companies with working interests in the project include
Chevron, Texaco, Moncrief, Mountain Petroleum, Prima Oil & Gas, Yates
Petroleum and others.
Secondly, a wildcat well planned by Conoco in the Kaiparowits Plateau of
southern Utah has been permitted by the state. The well will be drilled
offset to overriding royalty of 0.87% held by Amalgamated on a 1600-acre
lease on the prospect. The planned test will drill to 14,500 feet at an
estimated cost to Conoco of $2 million.
Amalgamated will utilize its electrotelluric survey to ascertain the
viability of each well and will make further predictions prior to drilling.
Amalgamated's Electrotelluric Survey scans the Earth's natural
electromagnetic fields to detect oil and gas deposits to depths of 17,000
feet. The company believes that it has the most advanced direct oil finding
technology in the world. Unlike 3-D seismic surveys, that only identify
potential structures for the trapping of hydrocarbons, the patent pending
Electrotelluric Survey detects the hydrocarbons themselves. This technology
gives instant in-field results, is totally non-invasive and environmentally
friendly.
For more information about Amalgamated Explorations and the Electrotelluric
survey, visit the Company's web page at: findoil.com.
CONTACT: Amalgamated Explorations Inc.
Jon Vaux, 888/999-8787 |
