ARXA NEWS
ARXA International Energy Inc., Announces Drilling of New Wells In Matagorda County, Texas
GULFPORT, Miss., Feb 1, 2000 /PRNewswire via COMTEX/ -- ARXA International
Energy, Inc. (OTC Bulletin Board: ARXA), announced today that Gulfport Oil &
Gas, Inc., Operator, is moving a rig onto location to drill a 7,000 foot wildcat
well in Matagorda County, Texas. This well should reach total depth in twenty
days.
At payout ARXA has a 25% working interest in the well which is exploring for Oil
and Gas in the Miocene between 4,000 feet and 7,000 feet. If this wildcat well
is successful, the rig will be moved to an appraisal location on the structure.
If the well is not successful, the rig will be moved to another wildcat location
approximately one mile to the Southwest.
This press release contains forward-looking statements, such as future
development activity. ARXA notes that there are a variety of factors that could
cause the actual results to differ materially from the anticipated results
expressed.
SOURCE ARXA International Energy, Inc.
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