Drilling Begins on Xtreme Oil & Gas Kansas Well
(firmenpresse) - PLANO, TX -- (Marketwire) -- 12/06/11 -- Xtreme Oil & Gas, Inc. (OTCQB: XTOG) (OTCBB: XTOG), an independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas, announces today that the Company has reached a vertical drilling depth of over 3,000 feet on the Hoffman well in Kansas. Additionally, the specialized equipment is on site to begin the next stage of horizontal drilling and hydraulic fracturing. Hoffman is the first well to be drilled on the Company's 8,516 acre Kansas property. The Company owns a 15% interest in the Kansas property and is partnered with three other oil and gas companies, all of which reviewed the geological studies on the formations.
"Xtreme and its drilling partners continue to deploy state of the art technology to exploit oil and gas formations successfully throughout Oklahoma, Kansas and Texas," stated Willard G. McAndrew, CEO of Xtreme. "The Kansas property has previously produced 23 million barrels of oil and fits our profile of applying today's methods to properties with prior prolific production history, taking advantage of significant technological advances in oil recovery technology. Management anticipates that production may begin by early 2012 and we expect to successfully repeat this process on additional wells in Kansas over the coming months."
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 producing oil and gas from properties it owns and operates in Texas and Oklahoma.
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.
Contact:
Xtreme Oil & Gas, Inc.
(214) 432-8002
Alliance Advisors
Bryan Kobel
Vice President
212-398-3486
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Datum: 06.12.2011 - 14:17 Uhr
Sprache: Deutsch
News-ID 94531
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PLANO, TX
Kategorie:
Equipment
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