MICRON ENVIRO SYSTEMS INC.
7514 Shadyvilla Drive Suite 100
Houston, Texas
77055
August 21, 2002 OTCBB- MSEV
Texas Update
The operator has informed Micron Enviro Systems ("MSEV") that the testing
process on the Z1 Well is slightly behind schedule. During the initial
testing stage, the pump was running at full capacity and some frac sand
filled the pump. This caused a two-day delay to clean out the tubing and
then to run it back down the well. Over the past three days the pumping
unit ran at approximately half of its capability to avoid the same possible
delays. The operator feels that we should continue to flow the well at
these reduced levels for the next 4-7 days and then slowly increase the
volume. Over the past three days the level of oil within the fluids being
pumped out of the well has increased each successive day. Once the level of
oil and condensate has stabilized and the well has flowed at its maximum
rate we will be able to provide flow rates for the well. Once official
numbers are achieved they will be immediately released.
If you have any questions please call MSEV. If you would like to be added
to MSEV's company updates email list, please send an email to
info@micronenviro.com and ask to be added.
Bernie McDougall, President of MSEV states, "We at MSEV understand and
appreciate our loyal shareholders anger and frustration over the delays this
well has experienced. We feel the same anger and frustration at the
company. Please understand that MSEV is only a stakeholder in this well and
is not the operator. Consequently the private interests control all the
drilling and completion processes. This being the case, the private
interests' timelines are not always the same as the public company's
expected timelines. What everyone needs to realize is that the company is
attempting to complete a commercial well and field with its partners. If
the partner's course of action is such that it causes delays, these actions
are outside of MSEV's control. The way the company will gain the credibility
with the shareholders is to successfully complete commercially viable wells
and that is what we are striving for."
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this Release are forward-looking
statements that are made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown risks
and uncertainties, which may cause the Company's actual results in future
periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, volatility of oil and gas prices, product demand, market
competition, and imprecision of reserve estimates. You should independently
investigate and fully understand all risks before making investment
decisions.
Contact Information:
Bernie McDougall
Micron Enviro Systems Inc.
info@micronenviro.com
TEL: 604-719-3705
www.micronenviro.com
This is not a solicitation to buy or sell securities. Any decision to buy
or sell securities should be made with the advice of a financial
professional. This is just a service for interested parties.
If you feel this was sent in error or would like to be removed from this
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AI
