Golden Chief Acquires Additional Properties
2005-09-28 12:08 ET - News Release
LEWISVILLE, Texas -- (Business Wire) -- Sept. 28, 2005
Golden Chief Resources, Inc. (Pink Sheets:GCHR) has
finalized the acquisition of an oil and gas property located in
Chautauqua County, Kansas. The property was acquired for the issuance
of common stock and the property consists of existing producing gas
wells as well as certain shut-in wells capable of producing oil.
Additionally, the Company acquired an undeveloped lease consisting of
160 acres located in Jefferson County, Kansas. This property is a
candidate for the drilling of at least two wells to test the McClouth
and Burlington-Keokuk formations. The Company expects to arrange for
the funds to drill these two wells during the next 60 days.
The Company has also completed testing and planning for the
resumption of production on the Ownbey and Troyer leases in southeast
Kansas. We expect to resume limited production early next month while
planning for the implementation of the gas repressurization project on
the Ownbey.
On Monday, September 27, 2005 the Company filed the remaining
10-Q's for this year. This makes the Company "current" in its filings
to the SEC. Our next filing will be the 10-K for the year ending
September 30, 2005. We expect to make this filing during December of
this year.
Where this statement includes "forward-looking" statements within
the meaning of Section 27A of the Securities Act, the Company desires
to take advantage of the "safe harbor" provisions thereof. Therefore,
the Company is including this statement for the express purpose of
availing itself of the protections of such safe harbor provisions with
respect to all of such forward-looking statements. The forward-looking
statements in this announcement reflect the Company's current views
with respect to future events and financial performance. These
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ from those
anticipated. In this announcement, the words "anticipates," "believes,
"expects," "intends," "future" and similar expressions identify
forward- looking statements. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events or
circumstances that may arise after the date hereof. All subsequent
written and oral forward-looking statements attributable to the
Company or persons acting on its behalf are expressly qualified in
their entirety by this statement.
Contacts:
Golden Chief Resources, Inc., Lewisville
Mike McIlvain, 972-219-8585
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