Hemi Energy (GM) (USOTC:HMGP)
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Hemi Energy Group Inc. (Pink Sheets: HMGP) is continuing
its aggressive acquisition program to acquire additional oil
properties in Montgomery County, Kan.
Keith A. Anderson, Hemi's chairman and CEO, stated, "Our pursuit
of these proved and unproved oil reserves in Kansas demonstrates
evidence of efficient use of existing and significant oil reserve and
production. Hemi is specifically targeting the southeastern Kansas
region because the mature fields in Kansas respond so well to our
enhanced oil recovery techniques. As a company, we are increasingly
concerned that U.S. strategic oil reserves have fallen to new lows,
that Saudi Arabia will not be able to meet worldwide oil demand, and
Royal Dutch Shell, the third largest oil and gas company, recently
announced it will not meet its expected production numbers. In
addition, the International Energy Agency predicts that Russian oil
production will fall short of expectations over the next four years.
We are definitely facing an oil crisis and must do all we can to
increase production."
About Hemi
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 millions of
barrels of proven oil remaining in the ground. Using attractive
lease/royalty packages, Hemi has secured 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.
Building on decades of experience in enhanced oil recovery, Hemi
has successfully amassed a substantial and attractive portfolio of
these high-quality domestic properties. By streamlining operations
through cutting-edge technologies, Hemi has the ability to operate
more effectively and efficiently than larger oil companies. For
additional information, please go to www.hemienergy.com. or
http://www.stockinformationsystems.com/c/HMGP/index.html.
Safe Harbor Provision
This press release may contain forward-looking information within
the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, and is subject to the safe
harbor created by those sections. Examples of such disclosures would
be statements regarding "probable," "possible," or "recoverable"
reserves among others. There is no guarantee that the projects that
Hemi Energy Group has recently acquired will increase the value of its
shares of common stock, or that Hemi Energy Group will acquire rights
to explore and operate any other such projects, or that in the event
that it acquires rights to explore and operate other such projects,
that these actions will be successful or increase the value of Hemi
Energy Group's common stock. There are many factors that could cause
our expectations and beliefs about our plans to acquire additional
exploration or production properties, including our plans to drill or
our drilling results to fail to materialize; competition for new
acquisitions; availability of capital; unfavorable geologic
conditions; the complexity of coal bed methane exploration and
production; and prevailing prices for natural gas and general regional
economic conditions. Hemi Group assumes no obligation to update the
information contained in this press release.