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.