WW Energy, Inc. Updates Drilling Progress in the 'Right Angle' Project
9:15 AM ET Mar 30, 2006
FARMINGTON, N.M., Mar 30, 2006 (PRIMEZONE via COMTEX) -- WW Energy, Inc. (Pink Sheets:WWNG) and its subsidiary company, WW Oil & Gas, Inc., today announced a drilling update on the Company's "Right Angle" oil and gas exploitation project in the San Juan Basin.
Director Hamlin K. Elrod commented as follows:
"Everything is going well. We are now past 4,100 feet, through the Gallup Formation, and on our way to the Dakota Formation. We estimate we'll get there sometime this weekend."
The Company's Right Angle oil and gas exploitation project is located in the highly prolific San Juan Basin of northwest New Mexico, with a primary objective of the Jurassic Entrada Sandstone Formation.
In the San Juan Basin, over 90% of the cretaceous development wells are successful. Several of the nearby Entrada fields have produced over a million barrels of oil. Testing in those Entrada fields indicate the capacity to produce as much as 20,000 BPD.
About WW Energy, Inc.:
WW Energy, Inc. is a holding company that was created to acquire oil and gas service companies as well as oil and gas related assets through two wholly owned subsidiaries.
WW Oil & Gas, Inc., established in 2005, is in the business of acquiring leases and oil and gas related assets. Such acquisitions are for the purposes of development, exploration, and exploitation. The company currently has two exploitation projects encompassing four oil and gas leases in the San Juan Basin area of New Mexico. Comprehensive drilling programs are being developed for full exploitation of these projects. ConocoPhillips, XTO Energy, and British Petroleum are among those companies active in the San Juan Basin.
WW Trucking Inc., formed in 1999, is a leading oil and gas services company for the oil field services industry in Utah, Colorado, New Mexico and Arizona (the Four Corners area). Their existing business operations are in transporting fresh production water for oil drilling/exploration and waste water for disposal. They also provide services for heavy hauling of drilling and well equipment needed in the oil and gas production and exploration industry.
A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results WW Energy Inc. may achieve could differ materially from any forward-looking statements due to such risks and uncertainties, including but not limited to, the fact that no assurance can be given that any proposed acquisitions will be consummated at all.
This news release was distributed by PrimeZone, www.primezone.com
SOURCE: WW Energy, Inc.
WW Energy, Inc.
