Cambrian Systems Corp. Updates on 84 Acre Tom Davis Oil Lease Bail Testing
(firmenpresse) - LEXINGTON, KY -- (Marketwire) -- 11/08/11 -- Cambrian Systems (CAMS) (the Company) (PINKSHEETS: CAMS) is pleased to announce that over the past several days the Company has bail tested five of the existing oil wells on their 84 acre lease in Green County, Kentucky.
Three of the wells appear to be extremely promising, with each of them showing good live oil that replenished itself as the Company continued to bail. The oil from the wells looks to be between 38 and 52 degrees gravity which is classified as the most desired light sweet crude.
Alex Ipanag said, "Recent muddy conditions made it impossible to reach each well location without causing extensive damage to the land. This left several more well sites that we were not able to evaluate at this time, but with a couple more days of good drying weather we can drive the rig onto location. One of the wells requires to be uncovered by a bulldozer and a potential additional well that was originally not counted in the package may have been located. Once the bulldozer is on location, we will locate this extra oil well."
The company will begin to proceed with the necessary regulatory requirements in order to begin producing the good wells and will bail test the remaining wells on the lease in the near future.
Alex Ipanag, President, stated, "We're very happy with the initial results of our bail testing program and we want to show shareholders we are very serious about bringing revenue bearing production into Cambrian Systems."
Please check the Company website for pictures and descriptions of the work being done.
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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Datum: 08.11.2011 - 07:03 Uhr
Sprache: Deutsch
News-ID 1054493
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Pipelines
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