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Energas Announces Finley #5 Results
OKLAHOMA CITY-(Business Wire)-September 3, 2008 - Energas Resources, Inc. (OTCBB: EGSR) announced today that the results of the Finley #5 well were negative and that the primary Leo formation was non-commercial.
“The engineer suspects that oil has migrated through this location, which skewed the sample and log interpretations, but reported that no commercial oil was trapped in this well. We will now reassess this project and decide the best course of action going forward,†stated George Shaw, President. “This is tough news but there is still work to be done on the company’s properties in Wyoming and Oklahoma.â€
Further announcements will be forthcoming.
Safe Harbor Statement
When used in this press release, the words “intends,†“believes,†“anticipates†and “expects†and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties, which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include normal risks associated with oil and gas drilling activities. In addition, adverse weather conditions can hinder or delay operations, as can shortages of equipment and materials or unavailability of drilling, completion, and/or work-over rigs. Even though a well is completed and is found to be productive, water and/or other substances may be encountered in the well, which may impair or prevent production or marketing of oil or gas from the well.
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