MSEV news.0362.B:MSEV- Acquires a 45% Interest in
Multi-Well Oil Prospect in Alberta
B: Micron Enviro Systems, Inc. -MSEV- Acquires a 45% Interest in a Multi-Well Oi
Prospect in Alberta
VANCOUVER, British Columbia, Nov 6, 2003 (BUSINESS WIRE) -- Micron Enviro
Systems, Inc. (OTCBB:MSEV) ("MSEV") is extremely pleased to report that MSEV has
entered into an agreement to acquire a 45% working interest in a multi-well oil
prospect located in Drayton Valley, in the world class oil province of Alberta,
Canada. Alberta's crude oil and equivalent production in 2002 was 1.53 million
barrels per day and accounts for approximately 55% of Canada's oil production.
Bernie McDougall, President of MSEV stated, "This is a tremendous opportunity
for MSEV. To be able to secure such a significant interest in this prospect
could provide MSEV with a significant source of new revenue. Alberta is a world
class oil and gas producing region and we are fortunate to be able to secure
this interest. We are hoping to be able to drill this prospect within the next
few months. Our goal is to become a mid-range oil and gas producer, this new
prospect along with our recently announced 40 well prospect in Oklahoma, could
help us achieve that goal."
MSEV and partner Habanero Resources Inc., have also been informed by the
operator that drilling on the Ima II well in Palo Pinto County, Texas is
currently at a depth of 3,500 feet.
MSEV is an emerging oil and gas company that has both oil and gas producing
properties. MSEV's goal is to become a mid-range oil and gas producer that
focuses on the exploration, discovery and delivery of gas and oil to the North
American marketplace. MSEV currently has eleven independent sources of oil
and/or gas revenue. MSEV's production is from nine oil wells in Canada, of which
MSEV currently has the largest working interest of any company involved in this
project that trade exclusively on the OTCBB, and two wells producing both oil
and gas revenue in Texas. MSEV is currently involved in three separate
multi-well oil and gas prospects, and we continue to look for additional
projects that would contribute in building market capitalization.
If you have any questions, please call MSEV at 604-646-6903. If you would like
to be added to MSEV's update email list, please send an email to
info@micronenviro.com requesting to be added.
This press release contains forward-looking statements that involve risks and
uncertainties. The statements in this release are forward-looking statements
that are made pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995. Actual results, events and performance could vary
materially from those contemplated by these forward-looking statements. These
statements involve known and unknown risks and uncertainties, which may cause
the Company's actual results in future periods to differ materially from results
expressed or implied by forward-looking statements. These risks and
uncertainties include, among other things, volatility of oil and gas prices,
product demand, market competition, and imprecision of reserve estimates, and
actual ability to recovery oil and gas that is present or represented to the
company by the operator. You should independently investigate and fully
understand all risks before making investment decisions.
SOURCE: Micron Enviro Systems, Inc.
CONTACT: Micron Enviro Systems, Inc.
Bernie McDougall, 604-646-6903
info@micronenviro.com
Fax: 604-689-1733
www.micronenviro.com
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Copyright (C) 2003 Business Wire. All rights reserved.
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KEYWORD: TEXAS INTERNATIONAL CANADA
INDUSTRY KEYWORD: ENVIRONMENT
ENERGY
OIL/GAS
MERGERS/ACQ
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