Alamo Energy Corp. (OTCBB:ALME) is pleased to provide an update to
its well completion program from its KYTX Kentucky wells.
In line with development plans to increase revenue, Alamo has
commenced completion of 25 new wells utilizing the company's
in-house workover capability and specialist service companies.
With production from existing wells on the acreage averaging
300,000 cubic feet of natural gas per day the target was to double
production from the 25 well program.
The first part of the program involved an initial 9 completions
in 5 wellbores targeting the Devonian Shale and Big Lime
formations. Following successful completions on the wells, 3 of the
5 wells have been flow tested with results considerably exceeding
our expectations with results as follows:
Brown #1: 82,000 cubic feet per day; 105psi Shut-in casing
pressure.
University of the Cumberlands #6: 135,000 cubic feet per
day; 140psi Shut-in casing pressure.
University of the Cumberlands #7: 132,000 cubic feet per
day; 172psi Shut-in casing pressure.
Total results: 349,000 cubic feet per day.
The 3 wells were shut in for 24 hours, shut-in pressure was
recorded and the wells were opened to maximum flow for 12 hours
through the digital wellhead meter. These 3 wells are now connected
and producing into the KYTX pipeline system with the remaining 2
wells in the process of being cleaned up from the stimulation
materials prior to being flow tested and put on
production.
With these results, we believe the total production once all 25
wells are completed could exceed 2,000,000 cubic feet of natural
gas per day.
As part of Alamo's growth strategy, the company has recently
acquired 2,500 new acres located contiguous to the existing 4,040
acres and infrastructure, we believe the land-to-resource ratio
enables 20-acre spacing, which will allow for up to 256 new wells.
The pipeline infrastructure in place is able to accommodate
increased production up to 9,000,000 cubic feet per day.
Allan Millmaker, Chief Executive Officer, commented: "We are
extremely pleased with the production results from the first three
wells and have begun planning the next phase in our program to
complete further wells with large scale stimulation treatments to
increase cash-flow from our assets in Kentucky."
About KYTX Group of Companies.
The KYTX group of companies are wholly owned subsidiaries of
Alamo Energy Corp and are located in Knox County, Kentucky in the
Appalachian basin. The companies are KYTX Oil & Gas, KYTX
Pipeline, and KYTX Drilling Company. Together, they contain 71
wells located on 6,540 acres, a 23-mile strategic pipeline network
capable of handling up to 9,000,000 cubic feet of gas per day
connected into the Delta system and one drilling rig, one service
rig and associated well-servicing equipment.
About Alamo Energy Corp.
Headquartered in London, England and with operational offices in
Knox County, Kentucky and Houston, Texas, Alamo Energy Corp.
(OTCBB:ALME) is an independent company focused on the exploration,
development and production of onshore oil and gas reserves in the
United Kingdom and United States. The company's UK exploration
program is focused on four blocks spread over 400 square kilometers
in an onshore oil and gas province in South East England. Alamo's
U.S. operations are focused on the development of assets in Texas,
Kentucky, Tennessee and West Virginia. For more information visit
www.alamoenergycorp.com
The Alamo Energy Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7619
Forward-looking Statements:
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and the Company's growth and business
strategy. Words such as "expects," "will," "intends," "plans,"
"believes," "anticipates," "hopes," "estimates," and variations on
such words and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and
unknown risks and are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties
and contingencies, many of which are beyond the control of the
Company. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Factors that
could cause actual results to differ materially include, but are
not limited to, changes in the Company's business; competitive
factors in the market(s) in which the Company operates; risks
associated with operations outside the United States; risks
associated with oil and gas operations; and other factors listed
from time to time in the Company's filings with the Securities and
Exchange Commission. The Company expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
Cautionary Note to U.S. Investors - The United
States Securities and Exchange Commission permits oil and gas
companies, in their filings with the SEC, to disclose only reserves
that comply with the definitions presented at Rule 4-10(a) of
Regulation S-X. We use certain terms in this press release that the
SEC's guidelines strictly prohibit us from including in filings
with the SEC. Examples of such disclosures would be statements
regarding "probable," "possible," or "recoverable" reserves among
others. U.S. Investors are urged to consider closely the disclosure
in our Form S-1, File No. 333-169609, available from us at 10497
Town & Country Way, Suite 820, Houston, Texas, 77024, United
States of America.
CONTACT: Alamo Energy Corp.
Philip Mann
+1 832-436-1832
ir@alamoenergycorp.com
Alamo Energy (CE) (USOTC:ALME)
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