IASCA IAS Communications, Inc. Announces Successful Gas Well Completed in Kentucky
Business Wire - June 6, 2006 9:00 AM (EDT)
VANCOUVER, British Columbia, Jun 06, 2006 (BUSINESS WIRE) -- IAS Communications, Inc. (OTCBB:IASCA) (www.iasenergy.com) is pleased to announce it has been advised by Energy Source, Inc., the operator, that the Ken Lee #1 well has been successfully completed as a commercial gas well. The initial open flow tested 1.22 MCF of high BTU gas. The well was completed to a depth of 1410' in the Big Lime formation.
John Robertson, President and CEO of IAS Communications, Inc., states, "The successful drill results for the Ken Lee #1 gas well provides confirmation of a productive gas field in the Knox and Laurel counties, Kentucky."
Gas production is to be completed in two weeks to the nearby Delta Natural Gas Line.
Additional drilling to be announced in the same gas field as the Ken Lee #1.
IAS has an option to participate in up to 24 wells to earn a 100% working interest, subject to a 12-1/2% interest to the landowner and 27-1/2% interest to Energy Source, Inc., the operator of the wells. IAS has an agreement with Teryl Resources Corp. wherein Teryl can earn a 40% working interest in up to 24 wells in the Kentucky gas field.
About IAS Communications, Inc.
IAS Communications, Inc. has an interest in two producing oil and gas wells in Texas. The wells are operated by Anadarko Petroleum Corporation, which is one of the largest independent oil and gas exploration and production companies in the world.
ON BEHALF OF THE BOARD OF DIRECTORS
Statements in this press release regarding IAS Communications, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including the impact of competitive products and pricing, the need to raise additional capital, uncertain markets for the Company's products and services, the Company's dependence on third parties and licensing/service supply agreements, and the ability of competitors to license the same technologies as the Company or develop or license other functionally equivalent technologies.
SOURCE: IAS Communications, Inc.
IAS Communications, Inc.
John Robertson, 800-665-4616
Copyright Business Wire 2006