OKLAHOMA CITY--(BUSINESS WIRE)--
Energas Resources, Inc. (OTCBB: EGSR) announced today that the Finley #5 well in Niobrara County, Wyoming has reached a total depth of 6,230 ft. Review of the mud and electric logs indicate the potential of commercial oil production from zones in the Leo formation at approximately 6,000 ft. Based on this information, Energas will immediately complete the well to test for production. Completion is scheduled to take place this week and the results will be announced thereafter.
Energas will own a 51% working interest in this well and owns a 44% working interest in this property, named the Rusty Creek Prospect, which covers approximately 1,760 acres. Further announcements will be forthcoming.
Safe Harbor Statement
When used in this press release, the words "intends," "believes," "anticipated" and "expects" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties, which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include normal risks associated with oil and gas drilling activities. In addition, adverse weather conditions can hinder or delay operations, as can shortages of equipment and materials or unavailability of drilling, completion, and/or work-over rigs. Even though a well is completed and is found to be productive, water and/or other substances may be encountered in the well, which may impair or prevent production or marketing of oil or gas from the well.
Source: Energas Resources, Inc.
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