Xtreme Oil & Gas Announces Effective Water Flood Operations in West Texas
(firmenpresse) - PLANO, TX -- (Marketwire) -- 02/07/12 -- Xtreme Oil & Gas, Inc. (OTCQB: XTOG) (OTCBB: XTOG), an independent energy company engaged in the exploration, development, and production of crude oil, is pleased to announce that the company has received confirmation that its water flood injection technique at its 5 Star West Thrifty Texas property has been successful in creating pressure and fluid recovery to the production wells.
The water flood injection method employed here injects water back into a reservoir to increase pressure and stimulate oil production. The injections of water come from strategically placed wells and pumps that wash the trapped oil out of the formation towards the producing wellbores. The effectiveness of this technique is demonstrated when the presence of oil and water appear in the targeted production wells.
"Management is extremely pleased to announce that our strategic drilling methods have been validated," stated Mr. McAndrew, CEO of Xtreme Oil & Gas. "The communication amongst our wells signals that we are rapidly approaching significant oil extraction from our West Thrifty Texas location. The drilling site is currently 1,200 acres and has previously produced over 8 million barrels of oil. In keeping with our strategic drilling initiatives, we expect to begin oil production from this site in late February."
Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas. The company's oilfield services disposes of saltwater for independent energy producers.
Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company's ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company's financial results can be found in the Company's reports filed with the Securities and Exchange Commission.
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Datum: 07.02.2012 - 13:30 Uhr
Sprache: Deutsch
News-ID 111793
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PLANO, TX
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Coal
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