DGAP-News: Northwest Oil&Gas Trading Company, Inc.: New Project 'Smith Field', Excellent future aspects
(firmenpresse) - Northwest Oil&Gas Trading Company, Inc. / Miscellaneous
08.03.2010 08:30
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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The company is pleased to announce the successful conclusion of an
agreement regarding the acquisition of interests in another promising gas
exploration project. The companies management has been successful in
assuring 75% of the interests, which means the majority concerning this
project and the aspects to increase the percentages. The field is located
close to Tuscaloosa, Alabama. According to the available geological data,
the area contains several gas-bearing sands. These sands (Carter Sand,
Lewis Sand, Nason Sand, Fayette Sand and Benton Sand) are well known for
stable and profitable production rates in the nearby other fields.
Because of the thickness of roundabout 44 feet especially the 'Benton Sand'
is expected to deliver excellent pressure and flow rates. Pipeline
connection is in convenient 1,500 feet, which enables a quite affordable
linkage and unproblematic sale of the produced gas. A third party report is
commissioned to secure the geological data for the upcoming exploratory
well.
Added together NWOil has now interests in expected natural gas reserves of
up to 30 BCF corresponding up to 150 million USD. The delay concerning the
exploration and drilling in 2009 at the other fields of the company are
reducible to unexpected legal issues. The appointed experts awaits the
successful finalization at the moment. With that the development of another
prospect will start parallel to the exploration of the above mentioned
field. All relevant informations will be released in a timely manner. As
well it is planned to tape the ongoing work at the fields by video and to
spread this at the companies homepage.
About Northwest Oil&Gas Trading Company, Inc.: Northwest Oil&Gas
Trading Company, Inc. is a young and upcoming exploration company pursuing
the primary goal of activating or reactivating existing oil- and
gas-reserves.
Disclaimer/Predictive statements: This notification serves only general
purposes and is not meant as a tender to purchase or sell shares of
Northwest Oil&Gas Trading Company, Inc.. Some statements in this
notification are so-called forward-looking statements under the U.S.
Private Securities Litigation Reform Act of 1995. These assertions are
based on current expectations, estimates and forecasts as well as currently
available information. The future-oriented assertions are not to be
understood as guarantees of the cited prospective developments and results.
The statements are not based on historical background, but rather represent
predictive position statements and assumptions subject to risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements and
assumptions, including, but not exclusively, certain delays beyond the
control of the company with respect to the beginning and duration of
exploration and production, uncertainties regarding future and/or
unexpected costs, fluctuations in commodity prices, the inability or
failure to obtain adequate financing on a timely basis, changesin the
national and local laws, contestations of legal possession of the property,
hazards effecting the environment, on-site accidents, unusual or unexpected
geological formations, flooding and other natural catastrophes, the risk of
inadequate insurance or the inability to conclude an insurance contract and
other risks, as well as also entirely unknown risks, uncertainties and
factors which could lead to situations where the actual results, financial
situation, developments or performance of the company considerably deviate
from those which were expressly or implicitly assumed in these statements
or assumptions. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in forward-looking
statements.
Dover, March 8th, 2010
Northwest Oil&Gas Trading Company, Inc.
08.03.2010 08:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 08.03.2010 - 08:30 Uhr
Sprache: Deutsch
News-ID 17163
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Kategorie:
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