Energy Finders, Inc enters into negotiations to sell certain leases

HONG KONG, China, Oct. 29  /PRNewswire-FirstCall/ -- (OTC-EGYF.PK) The Energy Finders, Inc. is pleased to announce that it has entered into preliminary negotiations to sell or joint venture all or part of its interest in the Trinity project in Edwards County in Texas.

If the Company is successful in either selling or joint venture arrangement, it intends to consider other projects within North America.

The Company may seek to redirect resources toward the Bakken Shale area situated in North Dakota, Montana and Saskatchewan. Recent drilling success has initiated successful exploitation of this major geological resource estimated at exceeding 500 billion barrels of good quality crude. Horizontal drilling combined by a sharp increase in the use of packers is now economically recovering a small fraction of the resource.

The Trinity Sand project in Texas is principally a heavy oil resource and is presently under a joint venture agreement with Mega West Energy based in Calgary, Canada. Several test wells were drilled last year in which Mega West earned its interest in the acreage.

Historic Information on Trinity Sands:

Since 1969, companies such as Shell, Getty, Murphy Oil, Dorchester and Carmel Energy have drilled and cored wells to quantify the heavy oil resource and have tested steam recovery in this project area. The well data encouraged further drilling and testing, but the then existing economic conditions did not support commercial development. There are also references to primary oil production from one of the wells.

The majority of the data for the Trinity Sand formation comes from wells drilled en route to the deeper gas formations. Electrolog and core analyses demonstrate oil in the Trinity Sand formation throughout the area, but no commercial production has been established to date. Aggregate sand sections vary from 40 to 140 feet in thickness.

For more information about Energy Finders Inc. please visit our website at http://www.energyfindersinc.com/ or contact us directly at 604-687-7492.

FORWARD LOOKING STATEMENTS

The statements contained herein which are not historical are forward-looking statements that are subject to risk and uncertainties that could cause actual results to differ materially from those expressed, including but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's press releases.

Furthermore, the forward-looking statements contained in this news release are made as of the date of this news release, and, except as required by law, Energy Finders does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. 

DATASOURCE: Energy Finders, Inc.



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