Cambrian Adds an Additional 191 Acres to Existing Oil Leasehold
(firmenpresse) - LEXINGTON, KY -- (Marketwire) -- 11/21/11 -- Cambrian Systems (CAMS) (PINKSHEETS: CAMS) is proud to announce that it has completed the acquisition of another lease. Our new "Jefferson" lease is comprised of 191 acres and is adjacent to their 84 acre Tom Davis lease in Green County, Kentucky.
The Jefferson lease has seven open hole wells that are in very close proximity to the wells on the Tom Davis lease. They look to be approximately 500 feet deep on average and likely contain oil from the same formation as those the Company has already bail tested on the Tom Davis lease.
Alex Ipanag, President, stated, "After we received the exceptionally good bail test results from the Tom Davis lease we made immediate efforts to tie up any sizable neighboring parcels of land. This is a major step toward our goal of establishing a large leasehold in this immediate area."
The company will make every effort to keep their shareholders updated as they continue working on their current leases and strive to add additional leases to their portfolio.
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: 21.11.2011 - 07:28 Uhr
Sprache: Deutsch
News-ID 1058905
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Oil & Gas
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