Mon Jan 7, 2002, 11:23AM Acquires Additional West Texas Energy Prospects
WILLOW PARK, Texas, Jan 7, 2002 /PRNewswire via COMTEX/ -- Ness Energy International, Inc. (NESS) announced today that it has acquired an additional 3,000 contiguous acres of land in West Texas in a private transaction. The parcel is approximately 10 miles west of Weatherford and is contiguous to other property that the company recently acquired. The land is located in the middle of highly productive fields of strawn and conglomerate production.
"We believe that this area holds tremendous promise," said Hayseed Stephens, Ness Energy's CEO. "We have increased our position because of the many attractive geological characteristics. We believe that our U.S. activities will help us generate short and long-term revenues in conjunction with the compelling opportunities in Israel."
Ness's leases also contain two continuous layers of potentially highly productive zones, The Barnett Shale and Ellenburger, underneath the shallower zones that either are currently producing or have produced in the past. The Barnett Shale and Ellenburger runs approximately to the Red River. The leases also contain potential productive zones of five strawn sands and two conglomerate zones. These were first discovered 35-40 years ago and have produced hundreds of billions of MCF of gas since then and some of these zones are still producing.
The company recently acquired 7,000 acres of land in Edwards County, Texas's Canyon Sand Field, an extension of the Sonora Field. The lease is an extension of the Canyon Sand prospect, which has caused the area around Sonora to experience tremendous success.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
For additional information or questions, call Rick Palmer at 817-341-1477.
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SOURCE Ness Energy International, Inc.
CONTACT: Rick Palmer of Ness Energy International, Inc.,
+1-817-341-1477
URL: nessenergy.com
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