Hemi Energy (GM) (USOTC:HMGP)
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From Jul 2019 to Jul 2024
Hemi Energy Group, Inc. (Pink sheets: HMGP) is pleased to announce it
has entered into definitive divestiture agreement with a private equity
group, regarding the company's Immigrant Gap lease acreage, located in
Natrona County Wyoming. This transaction is scheduled to close on or
before October 15, 2008.
President and CEO Keith A. Anderson issued this statement "The
divestiture of the Immigrant Gap property will allow the company to fund
and execute a multi well Horizontal drilling program on our Woodson
County KS properties. The company has determined thought extensive
evaluation of current vertical well performance and review of geological
reports that a horizontal drilling program should yield better results
when compared to conventional drilling techniques. To the best of my
knowledge horizontal drilling has not been utilized in the Humboldt
Chanute oil field. Horizontal Drilling has been instrumental in
unlocking reserves, once thought impractical, for instance The Bakken
field in North Dakota, the Barnett and Fayetteville Shale’s
in Texas and Arkansas and the Austin Chalk in South Texas. We know we
have a large reservoir of petroleum in place covering our Woodson County
leases, we are optimistic directional drilling will yield exceptional
results of these proved reserves. We will be employing the first
available Texas or Oklahoma based drilling company to conduct this
project and we anticipate spudding the well in the next 30 to 90 days."
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.