Cotton Valley Re-Completes Large Gas Well in Oklahoma
Highlights
- Cotton Valley Re-Completes the Hubbard #1A in Beckham County, Oklahoma
- Initial Flow Rate of 3,700 MCF of Gas per Day
- Company owns a 13.79% Working Interest in the Hubbard #1A
OKLAHOMA CITY, Feb. 16 /PRNewswire/ -- Jack E. Wheeler, Chairman,
President and CEO of Cotton Valley Resources Corporation,
(OTC Bulletin Board: KTNV, CDN: CVZC), today announced the re-completion of
the Hubbard #1A natural gas well located in the Elk City Field of Beckham
County, Oklahoma, an area of prolific natural gas production. The initial
flow rate of the well was 3,700 MCF of gas per day and 60 BBL of petroleum
condensates after fracture stimulation. The well could produce at even higher
levels after further clean up.
The Company owns a 13.79% working interest in the Hubbard #1A and over a
30% interest in any offset wells drilled as a part of future development of
the property. "The Hubbard #1A will add significantly to our reserve position
and we feel confident that the area will be very productive as we continue our
development work," commented Mr. Wheeler. "We have many opportunities like
this among our 500 producing properties which will add substantial reserves
and revenue and further increase our shareholder value."
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 Cotton Valley Resources Corporation
-0- 02/16/2000
/CONTACT: Jack E. Wheeler, Chairman, President and CEO, 405-606-8500, or
Michael A. Branch, Director of Communications, 405-767-9185, both of Cotton
Valley Resources Corporation/
/Web site: cottonvalley.com
(KTNV)
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