15-Jan-2001 Ness Agrees to Do Additional Seismic Work Before New Spud-In Date
MONDAY, JANUARY 15, 2001 6:49 PM
- PRNewswire
WILLOW PARK, Texas, Jan 15, 2001 /PRNewswire via COMTEX/ -- Ness Energy International, Inc. (OTC Bulletin Board: NESS) reported Friday that its Chairman and CEO, Mr. Hayseed Stephens, had returned to the states after a series of successful meetings in Israel related to Ness' upcoming oil well drilling projects at the Southwest end of the Dead Sea.
Mr. Stephens had extensive meetings with Dr. Charles Druckman, Petroleum Commissioner in Israel, and with Mr. Jacob Luxenburg, owner of Lapidoth Israel Oil Prospectors Corporation, Ltd. and Yossi Levy, Managing Director of Israel Oil Company.
Mr. Stephens and Ness' technical employees met with Commissioner Druckman on January 8th. An agreement was reached to reprocess eight lines of seismic and shoot one new line to tie all the lines together. The interpretation of the new processed and newly shot lines shall be presented to Dr. Druckman on or before May 1, 2001. This will cause the re-entry and new diagonal drilling of Har Sdom #1 to commence on or before June 1, 2001. The new date was confirmed today by letter from the Commissioner's office.
The meeting with Lapidoth head, Mr. Luxenburg, pertained to the availability of the Emsco 1500 after Ness completes its work program. It appears that all is in line and ready with the repairs and additions required to drill diagonally at the location. Naturally, Ness will attempt to expedite the spud-in date of June 1, 2001.
There continues to be several Israeli companies who are involved with the Israeli offshore gas play that are quite interested in Ness' project at the Southwest end of the Dead Sea, where the deepest well in the Middle East will be drilled, below the deep salt caprock. The lower Cretaceous, Jurassic and Triassic zones are scheduled to be encountered and tested to open up this new potential oil province in Israel.
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially and market products and/or services and other risks detailed from time to time in the Company's report filed with the Securities and Exchange Commission.
SOURCE Ness Energy International, Inc.
CONTACT: Rick Palmer of Ness Energy International, Inc., 817-341-1477
URL: nessenergy.com
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(C) 2001 PR Newswire. All rights reserved.
KEYWORD: Texas
Israel
INDUSTRY KEYWORD: OIL
SUBJECT CODE: OTC
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