Cambrian Completes 84 Acre Kentucky Lease Acquisition

ID: 1051427
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(businesspress24) - LEXINGTON, KY -- (Marketwire) -- 10/31/11 -- Cambrian Systems (CAMS) (PINKSHEETS: CAMS) is proud to announce that it has completed the acquisition of the 84 acre lease in Green County, Kentucky.

Now that the 84 acre oil lease in Green County has been acquired, our first step is to formulate a comprehensive exploration program to maximize oil recovery from the property. The leases consists of eight open hole wells that appear to be approximately 500 feet deep on average. Our research revealed that the "Coniferous" and "Blue Sand" pay zones are the two primary sources of oil at that depth in the area. While our immediate goal is to begin working on the current wells the lease does have enough space available for us to drill additional wells at the same depth or possibly even deeper.

Alex Ipanag, President, stated, "We look forward to beginning work on this lease with modern techniques and have every intention of evaluating additional leases in the immediate area over the next few weeks."

The company will provide periodic updates on this property on our website as further information is made available.

About Us

Cambrian is an independent oil and gas company with a primary focus on acquiring, developing and participating in the U.S. crude oil and natural gas properties.

Safe Harbor

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Cambrian Systems, Corp., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

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Date: 10/31/2011 - 07:51
Language: English
News-ID 1051427
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Firma: Cambrian Systems
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Stadt: LEXINGTON, KY
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