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HMGP Hemi Energy Group Inc (GM)

0.000001
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Hemi Energy Group Inc (GM) USOTC:HMGP 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% 0.000001 0.000001 0.000001 0.00 01:00:00

Hemi Energy Group Inc. Updates Shareholders

26/06/2006 6:37pm

Business Wire


Hemi Energy (GM) (USOTC:HMGP)
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This month (June) marks the first-year anniversary of Hemi Energy Group Inc. (Pink Sheets: HMGP) as a publicly traded company. When Hemi started in 2001, the oil industry was at a low. The founders of Hemi, knowing oil and gas would rebound, began acquiring oil and gas production. President Keith A. Anderson stated, "When we started, we chose to spread risk by acquiring many small wells with proven reserves rather than one or two big wells with the thought that if one or two production wells go down, the field is still profitable or a new well in the midst of a decline curve." Hemi presently has assets in a number of states, but for the past year has concentrated its efforts on attaining further holdings in the state of Kansas. To date Hemi has established and maintains excellent relationships with landowners and government agencies, financial solvency without the burden of debt, and continues to be on the forefront of development of Enhanced Oil Recovery (EOR) operations. As for current activities, the company reports that it remains ahead of schedule for both the infrastructure upgrades and pilot programs for Enhanced Oil Recovery (EOR) programs at its Woodson and Montgomery County Kansas Fields. Anderson said, "Of the 71 wells located on southeastern Kansas leases, 24 have been tested to date with the majority performing significantly higher than our initial expectations. We feel the initial testing of these wells will be completed by June 30, 2006. Our Kansas acquisition program is also advancing ahead of schedule. We feel by the close of this acquisition program, at the third fiscal quarter in September, we should acquire between 200 and 400 wells for EOR operations." Hemi has also scheduled Canadian Geologist E. A. Eddie Hunt of Calgary, Alberta, Canada. Hunt is to be on site from July 8 through July 22. Hunt specializes in EOR engineering and field stimulation; additionally, he will be analyzing coal bed zones for natural gas reserves, any bypassed (behind pipe) formations, as well as deep oil and gas formations for any future exploration activities. For more information: http://www.stockinformationsystems.com/c/HMGP/index.html Download an investment brochure: http://www.hemienergy.com "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.

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