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EGYF Energy Finders Inc (PK)

0.0286
0.00 (0.00%)
Last Updated: 14:43:34
Delayed by 15 minutes
Share Name Share Symbol Market Type
Energy Finders Inc (PK) USOTC:EGYF OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0286 0.0286 0.039 0.00 14:43:34

Energy Finders, Inc. Announces Completion of Geological Overview and Further Developments on MEGA WEST PROJECT

08/11/2006 12:00pm

Business Wire


Energy Finders (PK) (USOTC:EGYF)
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Energy Finders, Inc., (OTC:EGYF) is pleased to report that the new joint venture partners, Trinity Sands Energy LLC, et al, have completed the geological overview of existing data on the MEGA WEST PROJECT. This study makes way for the drilling and coring of two to four core locations during the “Coring Phase.” The Group anticipates the commencement of the “Coring Phase” during January 2007. The J.V. Group brings significant capital and exceptional technical expertise to the MEGA WEST PROJECT. The J.V. Group is accelerating all phases of their earn-in agreement in order to attain production. The original joint venture was formed by International TME Resources, Inc. (ITME), of which Energy Finders, Inc. is a principal partner. A total of 17,200 acres of land, more or less, has been acquired in the prospect MEGA WEST PROJECT AREA, and additional leases are currently being acquired. The prospect is projected to contain more than 48 Million Barrels of recoverable Oil per each 640-acre section. A 60% recovery factor is projected for the Trinity Sands, and the projected recoverable reserves for the current acreage block is 1.29 Billion Barrels of Oil. Energy Finders, Inc. holds a 70% interest in the Joint Venture project while ITME earns a carried 30% net profit interest in the project and manages lease acquisition. The statements in the press release that relate to the company's expectations with regard to the future impact the company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain ”forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since the information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. For the Board J. Randolph Hastings, Jr., President Energy Finders, Inc. Symbol: EGYF 5001 LBJ Freeway, Suite 700 Visit our website at Dallas, Texas 75244 http://www.EnergyFindersInc.com 972-387-7355 Energy Finders, Inc., (OTC:EGYF) is pleased to report that the new joint venture partners, Trinity Sands Energy LLC, et al, have completed the geological overview of existing data on the MEGA WEST PROJECT. This study makes way for the drilling and coring of two to four core locations during the "Coring Phase." The Group anticipates the commencement of the "Coring Phase" during January 2007. The J.V. Group brings significant capital and exceptional technical expertise to the MEGA WEST PROJECT. The J.V. Group is accelerating all phases of their earn-in agreement in order to attain production. The original joint venture was formed by International TME Resources, Inc. (ITME), of which Energy Finders, Inc. is a principal partner. A total of 17,200 acres of land, more or less, has been acquired in the prospect MEGA WEST PROJECT AREA, and additional leases are currently being acquired. The prospect is projected to contain more than 48 Million Barrels of recoverable Oil per each 640-acre section. A 60% recovery factor is projected for the Trinity Sands, and the projected recoverable reserves for the current acreage block is 1.29 Billion Barrels of Oil. Energy Finders, Inc. holds a 70% interest in the Joint Venture project while ITME earns a carried 30% net profit interest in the project and manages lease acquisition. The statements in the press release that relate to the company's expectations with regard to the future impact the company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since the information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. For the Board -0- *T J. Randolph Hastings, Jr., President Energy Finders, Inc. Symbol: EGYF 5001 LBJ Freeway, Suite 700 Visit our website at Dallas, Texas 75244 http://www.EnergyFindersInc.com 972-387-7355 *T

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