Xtreme Oil & Gas' 5-Star Project to Commence Injection
(firmenpresse) - PLANO, TX -- (Marketwire) -- 10/27/11 -- Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) an independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas, announced three new completed wells on the Company's West Thrifty property in Brown County Texas passed final testing with the Railroad Commission of Texas allowing us to begin injecting water into our 5-Star Well project. These wells were completed in the Fry Sands formation and the Company expects to begin the injection process in November.
Willard G. McAndrew III, CEO of Xtreme, commented, "Passing these tests is the last critical step we needed to finish before beginning our water injection, with results expected by year end. By using a targeted water-flooding methodology within this 1,200 acre Texas property, we expect to significantly increase our daily oil production from this project. Additionally, geological studies imply we could copy this method in over a dozen additional locations on this property. As we layer on revitalizing well projects, like our 5-Star Well project, to salt water business, we continue to see leverage in our model with the added upside of future drilling projects."
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.
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.
Xtreme Oil & Gas, Inc.
(214) 432-8002
Investor Relations:
Bryan Kobel
Alliance Advisors
212-398-2513
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Datum: 27.10.2011 - 06:30 Uhr
Sprache: Deutsch
News-ID 1050542
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