DGAP-News: Northwest Oil&Gas Trading Company, Inc.: Oilwells in Louisiana and Texas
(firmenpresse) - DGAP-News: Northwest Oil&Gas Trading Company, Inc. / Key word(s):
Miscellaneous
Northwest Oil&Gas Trading Company, Inc.: Oilwells in Louisiana and
Texas
24.05.2011 / 11:25
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As published end of April the legal process for assigning percentages in
several small already producing oil wells is completed. These 14 wells are
located in Louisiana and out of the fair way of hurricanes that usually hit
the coast of Louisiana around summer and autumn. It is important to note
that no damage was suffered from the latest storms or the devastation of
hurricanes Katrina and Rita. The goal is to increase the actual production
by reworking the wells and the technical equipment and/or drilling new
wells. Within one year six-digit-revenues are possible.
Actually NWO is in Due Diligence concerning a venture in a low risk oil
prospect in Texas. The Project includes 4 leases covering approximately 465
acres with 32 total wells. This consists of 12 producing wells, 15 shut in
wells, and 5 Salt Water Disposal (SWD) wells. The plan is to bring 14 of
the shut-in wells on line and to drill additionally 10 new infield wells
(the shallow oilbearing zone will secure a cost-efficient drilling).
About Northwest Oil&Gas Trading Company, Inc.:
Northwest Oil&Gas Trading Company, Inc. is an exploration and production
company pursuing the primary goal of activating or reactivating 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,
changes in 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, orshould underlying assumptions prove
incorrect, actual results may vary materially from those described in
forward-looking statements.
Magnolia, May 24th, 2011
Northwest Oil&Gas Trading Company, Inc.
Investor Relation Germany: Phone +49 (0)30-6098 0696
End of Corporate News
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24.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
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125936 24.05.2011
Datum: 24.05.2011 - 11:25 Uhr
Sprache: Deutsch
News-ID 34185
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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