DALLAS--(BUSINESS WIRE)--Sept. 25, 2000--Castleguard Energy Inc.,
today announced several strategic moves to strengthen its acquisition
and investment position. Chief Executive Officer Scott Heape said that
the company has reached an agreement for the completion of a farm-out
in a high profile and resource rich oil and gas field in East Texas.
Heape further announced the purchase of working interests in
several wells located in the Minden Field of Webster Parish, La., and
that the company is drilling a new well in the Minden Field. He said
that the working interests were acquired from the date of first
production and give Castleguard about $50,000 per month cash flow.
Castleguard's current acquisition program includes eight units
totaling approximately 5000 acres acquired through farm-out in Willow
Springs Field, Gregg County, Texas. These units are being drilled for
undeveloped reserves in the Travis Peak, Pettet, and Paluxy
reservoirs.
Castleguard Energy, Inc. (OTC BB:MOAT) is a Dallas based
independent oil and gas company. It became a full reporting company in
February 2000. For further information contact Mr. Bob G. Honea,
President, Castleguard Energy, Inc. at 214/361-1755 or visit
Castleguard's Internet channel on the AIN network at
www.awareinvestornetwork.com.
--30--SL/na*
CONTACT: Castleguard Energy, Inc.
Bob G. Honea, 214/361-1755
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