Hemi Energy (GM) (USOTC:HMGP)
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Hemi Energy Group, Inc. (Pink Sheets:HMGP) Hemi Energy announces that
McPherson Drilling of Cherryvale, Kansas has moved onto Hemi’s
Tebbens lease, located in Woodson County, where they will commence
drilling the Tebbens_Hemi 1 into the Arbuckle
formation. The Arbuckle formation is a relatively deep formation by
Eastern Kansas standards. Hemi has undertaken this deeper drilling
horizon in order to test and evaluate many of the known and unknown oil
and gas formations which lie below the current Squirrel formation.
Current production in the Squirrel formation is from the 750’
to 800’ range.
Additionally, once the drilling of this well has been completed later
this week, McPherson will commence drilling on the Sturgeon Lease
located near Cherryvale Kansas. Hemi has selected the Sturgeon_Hemi
1 to the Mississippian formation as the target of this drill. This well
will be drilled 100’ offsetting a well that
was drilled into the Mississippian formation in 1953. At the time this
well was originally drilled, the developer discovered natural gas in the
Mississippian formation and due to the lack of demand for natural gas
and lack of infrastructure to get the natural gas to market, the driller
chose to plug and abandon the well.
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.
"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.