DGAP-News: Worldwide Energies Inc.: PROGRESS ON BUILDING OF PIPELINE AS WELL AS NEGOTIATIONS WITH POTENTIAL INVESTORS
(firmenpresse) - Worldwide Energies Inc. / Miscellaneous
02.06.2010 16:56
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CORPORATE NEWS
WORLDWIDE ENERGIES, INC.
PROGRESS ON BUILDING OF PIPELINE
AS WELL AS NEGOTIATIONS WITH POTENTIAL INVESTORS
The management of Worldwide Energies, Inc. would like to announce that the
works on the pipeline of the Koon prospect on target with the anticipated
time line.
Currently the preparations have started to drill another well in the Koon
Prospect. This well will be a re-entry. Years ago another geology team has
drilled this well and had declared it a 'dry hole' due to a miss
interpretation of the logs at that time. Our geologist has re-evaluated the
data and shows that the sand formations of the recently discovered KOON
21-7 # 1 are also present at the proposed re-entry, as well as 3 additional
sands below the lower Fayette Sands. Worldwide Energies, Inc. expects
similar excellent results in the re-entry as the Koon 21-7 #1 showed.
Based on the very successful exploration of the KOON Gas Field we are
currently in several negotiations with several companies from the oil and
gas sector as well as institutional investors. In order to speed up growth
and push our success to the next level, we are exploring several joint
venture offers and other forms of proposals.
About Worldwide Energies, Inc.: Worldwide Energies, Inc. was founded in
2004 as an independent investment company focusing on oil- and
gas-exploration. The company's core business is the acquisition,
development and exploitation of oil and gas fields in the US with its
well-developed infrastructure, close-by sales markets and stable social and
political structures. Worldwide Energies, Inc. mainly invests in already
existing oil- and gas-exploration-projects or projects that can be realized
rapidly and especially in innovative technologies with a wide application
spectrum. The company's particularly low internal cost is due to lean
internal processes and the exploitation of value adding potentials right at
source. Worldwide Energies, Inc. spreads its entrepreneurial risk by
investing in a well balanced risk-portfolio in projects in various
development stages, including risky new exploration projects, the so-called
'wildcat-projects', the reactivation of known wells, the so-called
're-entry' with medium risk profile and also in low-risky already producing
wells.
Disclaimer / Forward-Looking Statements: This notice is only of general
nature and not meant as a tender to subscribe for or sell shares of
Worldwide Energies, Inc. This notice contains forward-looking statements
under the U.S. Private Securities Litigation Reform Act of 1995. These
statements are based on current expectations, estimates and projections and
currently available information. They are not guarantees of future
performance. The statements contained herein which are not historical are
forward-looking statements that are subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements,
including, without limitation, certain delays beyond the company's control
with respect to commen-cement of the exploration and production, risks and
uncertainties relating to foreign currency fluctuations; risks inherent in
exploration including environmental hazards, industrial accidents, unusual
or unexpected geological formations, ground control problems and flooding;
risks associated with the estimation of resources and reserves and the
geology, grade and continuity of deposits; the possibility that future
exploration, development or exploration or production results will not be
consis-tent with the companies' expectations; the inability or failure to
obtain adequate financing on a timely basis, the potential for and effects
of labour disputes or other unanticipated difficulties with or shorta-ges
of labour or interruptions in production; the inherent uncertainty of
production and cost estimates and the potential for unexpected costs and
expenses, commodity price fluctuations; uncertain political and economic
environments; changes in laws or policies, foreign taxation, delays or the
inability to obtain necessary governmental permits; and other risks and
uncertainties. 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, May 21nd, 2010
Worldwide Energies, Inc.
02.06.2010 16:56 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 02.06.2010 - 16:56 Uhr
Sprache: Deutsch
News-ID 21878
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