BROUSSARD, La., June 4 /PRNewswire/ -- Environmental Remediation Holding
Corp. (OTC Bulletin Board: ERHC) announced today that it has activated the
first five of 100 oil and gas wells in the Wichita Falls, Texas area --known
as the Gunsite Sand of East Texas. This activity marks the first oil
production for the company.
According to Samuel L. Bass, Jr., Chairman and CEO of ERHC, "So far, these
five re-work wells show excellent results. Each are already producing eight
barrels per day of oil, up from one-half initially, and we anticipate greater
results once we implement the BAPCO Tool."
The company plans to continue work on the well sites within the next 30 to
60 days using its proprietary BAPCO Tool, a state-of-the-art lateral drilling
device that can economically increase production more than 300% from low or
non-producing oil and gas wells. Results from the application of the tool
will be announced as the production data becomes available.
Traditional methods rarely extract more than 25 to 30% of the oil and gas
in proven formations. Completion techniques, such as fracturing, typically
limit the ability to bring oil and gas from a productive formation to the well
bore. The BAPCO Tool, on the other hand, can reach as far as two hundred feet
from the well bore and provide numerous open channels for the free flow of
hydrocarbons.
The company continues to look for joint ventures or acquisitions of low-
producing oil and gas properties that would benefit from the application of
BAPCO technology.
Environmental Remediation Holding Corporation is engaged in developing and
funding environmental remediation activities both domestically and
internationally. Through a series of acquisitions, the company is forming a
unique, full-service organization dedicated to providing environmental
services to major oil and gas companies. This includes environmental
engineering and consultation; hazardous waste (including NORM waste) and non-
hazardous waste clean-up; manufacture and distribution of waste clean-up
materials; waste management, transportation and disposal; plug and abandonment
services (P&A); and re-work of oil and gas wells.
NOTE: BAPCO(TM) and BAPCO Tool(TM) are trademarks of Bass American
Petroleum Corporation.
Safe Harbor Act notice: This release may contain forward looking
statements that involve risks and uncertainties, including, without
limitation, continued acceptance of the company's services, increased levels
of competition, product and technological changes, hazardous waste control,
the company's dependence upon financing and third-party suppliers, and other
risks detailed from time to time in the company's federal filings, annual
report, offering memorandum, or prospectus.
SOURCE Environmental Remediation Holding Corp.
CONTACT: Noreen Wilson or Jim Griffin of ERHC, 516-433-9119 or Geoffrey
C. Plank of GFC Communications, 561-655-7575 |
