Hemi Energy (GM) (USOTC:HMGP)
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A multi-billion dollar oil company on the New York stock exchange, with
home offices in Fort Worth, has asked Hemi Energy Group, Inc. (Pink
Sheets: HMGP) for geological information for our Sabine, Texas leases
and also some leases we hold in other states. There are dozens of
producing gas wells that are only approximately four miles from our
Sabine leases. These gas wells, of several major oil companies, have an
average revenue of $2.5 million per year, per well and some have
substantially greater revenue. These gas wells in Texas also have long
life and slow decline curves and an economic life of ten or more years.
Hemi has acquired, for cash, additional Barnett-Shale leases in Fort
Worth since our press release on April 22nd. These additional
checker-boarded leases will absolutely be legally necessary to be pooled
with their leases before these two companies, with major urban
development drilling programs, can begin to drill. The multi-billion
dollar oil company, with home offices in Fort Worth, is also showing
interest in our Barnett-Shale leases in Fort Worth.
The rain in Kansas that had saturated the ground in the area of this
well and delayed the completion of the fracing techniques and thereby
the barrel count per day but results will be available any day next week
from this oil well. The new oil wells will be drilled next week on our
leases in the Cherry Creek Trend in Woodson County, Kansas. There will
be no delay on drilling the new wells because all supplies necessary for
drilling these virgin leases are already in place. The ground condition
on the lease location to be drilled has been prepared and therefore rain
will not be a delaying factor. McPherson Drilling LLC has been
contracted to drill these wells.
Hemi Energy Group is an independent crude oil and natural gas producer
employing a unique business model capitalizing on technological advances
to exploit mature fields with milllions of barrels of proven oil
remaining in the ground. Using attractive lease/royalty packages Hemi
has secured, in its history tens of thousands of acres of productive
domestic projects. The company's forward-thinking strategy has placed it
in an enviable position at a time when prices and global demand for oil
continue to rise.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995
Statements in this press release relating to plans, strategies, economic
performance and trends, projections of results of specific activities or
investments, and other statements that are not descriptions of
historical facts may be forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Forward-looking information is inherently subject to risks and
uncertainties, and actual results could differ materially from those
currently anticipated due to a number of factors, which include, but are
not limited to, risk factors inherent in doing business. Forward-looking
statements may be identified by terms such as "may," "will," "should,"
"could," "expects," "plans," "intends," "anticipates," "believes,"
"estimates," "predicts," "forecasts," "potential," or "continue," or
similar terms or the negative of these terms. Although we believe that
the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity,
performance or achievements. The Company has no obligation to update
these forward-looking statements.
For additional information please go to http://hemienergy.com
or http://www.stockinformationsystems.com/c/HMGP/index.html.