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Wednesday, April 04, 2007 4:37:34 PM
Previous PR on 4000 Acre New Mexico Lease...
Hemi Energy Projects December Oil Production of over 900 Barrels
Wednesday November 8, 10:00 am ET
GRAHAM, Texas--(BUSINESS WIRE)--Hemi Energy Group, Inc. (Pink Sheets HMGP) reports the first shipment of 180 bbls at $53.70 per bbl has been completed in November. Hemi Energy will have 3 to 4 shipments of 180 bbls each completed in the month of November. More oil is produced each month than can be shipped because partial shipments of less than 180 bbls cannot be picked up by Plains Marketing, LLP, since safety regulations control how pickups may be made at tanks in an oilfield.
Extensive rebuilding and reconditioning of equipment and lease improvement, i.e. electrical lines, road improvements and underground oil pipeline systems to oil storage tanks, has allowed improvements to be made to wells. A little over 20 percent of the wells in the Woodson County, Kansas five leases have now established base-line production figures, and are reworked completely and producing oil.
Based on improvements being completed in November, Hemi Energy expects to have more than 900 bbls of oil production in December. The above lease improvements will enable Hemi to complete additional wells being reworked and bring more wells on line.
Hemi Energy has approximately four thousand acres on a lease in southeastern New Mexico near Roswell in Chaves County. This lease has historic oil production. There have been new wells drilled by other oil companies that are currently producing, and new reserves being explored in Eddy and Lea County adjacent to and south of Chaves County. Hemi Energy also has leases in four additional states and some of these leases are near major oil/gas production.
(image below might take some time to load. Red Dot=GAS Green=Oil)
Hemi Energy Projects December Oil Production of over 900 Barrels
Wednesday November 8, 10:00 am ET
GRAHAM, Texas--(BUSINESS WIRE)--Hemi Energy Group, Inc. (Pink Sheets HMGP) reports the first shipment of 180 bbls at $53.70 per bbl has been completed in November. Hemi Energy will have 3 to 4 shipments of 180 bbls each completed in the month of November. More oil is produced each month than can be shipped because partial shipments of less than 180 bbls cannot be picked up by Plains Marketing, LLP, since safety regulations control how pickups may be made at tanks in an oilfield.
Extensive rebuilding and reconditioning of equipment and lease improvement, i.e. electrical lines, road improvements and underground oil pipeline systems to oil storage tanks, has allowed improvements to be made to wells. A little over 20 percent of the wells in the Woodson County, Kansas five leases have now established base-line production figures, and are reworked completely and producing oil.
Based on improvements being completed in November, Hemi Energy expects to have more than 900 bbls of oil production in December. The above lease improvements will enable Hemi to complete additional wells being reworked and bring more wells on line.
Hemi Energy has approximately four thousand acres on a lease in southeastern New Mexico near Roswell in Chaves County. This lease has historic oil production. There have been new wells drilled by other oil companies that are currently producing, and new reserves being explored in Eddy and Lea County adjacent to and south of Chaves County. Hemi Energy also has leases in four additional states and some of these leases are near major oil/gas production.
(image below might take some time to load. Red Dot=GAS Green=Oil)
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