Hinto Energy, Inc. Acquiring Additional Wells and 4,400+ Acres
30 Abril 2013 - 5:00AM
Marketwired
HINTO ENERGY, INC. (OTCQB: HENI) is pleased
to report the Company has entered into a letter of intent to
acquire a 100% working interest in 9 natural gas wells and in
excess of 4,400 gross leased acres in the Cisco Springs oil and gas
field, in the Uintah Basin of Grand County, Utah. The company is
planning to connect the well into the local gas gathering system,
as soon as proper testing and evaluation is completed. The Company
expects to complete the acquisition in May of this year.
George Harris, the Company's Chief Executive Officer, remarked,
"We have been working to acquire this Cisco acreage for the past
year. The property is adjacent to the Company's existing Cisco
leases and increases holdings in the area to over 9,000 acres and
35 wells. The leases being acquired include a natural gas gathering
system connected to a local pipeline that greatly simplifies
collection and sale of natural gas from existing Company gas wells
in the area. The recent rise of natural gas prices continues to
make the production economics of shallow gas in the area
attractive."
In addition to existing production and rework opportunities, the
Company believes the leases being acquired provide significant
potential for drilling additional oil and gas wells. The Company
will continue to look at opportunities to expand its lease holdings
in the Greater Cisco area.
Hinto Energy, Inc. engages in the exploration, acquisition, and
development of oil and gas properties. The company was formerly
known as Garner Investments, Inc. and changed its name to Hinto
Energy, Inc. in September 2011. The company was founded in 2011 and
is based in Arvada, Colorado.
Notice Regarding Forward-Looking
Statements
This press release may contain certain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Investors are cautioned that such
forward-looking statements involve risks and uncertainties, which
include among others, the inherent uncertainties associated with
petroleum exploration and development stage exploration companies
including without limitation, other risks detailed from time to
time in the Company's periodic reports filed with the Securities
and Exchange Commission.
Contact Information: Hinto Energy, Inc. Gary Herick Vice
President - Finance 7609 Ralston Road Arvada, CO 80002 (303)
647-4850 www.hintoenergy.us
Hinto Energy (PK) (USOTC:HENI)
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