At least HMGP is showing evidence of having a pulse, whereas ALRY appears to have flat-lined. Mark my words, Sanford will continue to say nothing and the share price is not long away from triple zeroes.
Hemi Announces Activity on Its Barnett Shale Leases
Nov 19, 2008 1:05:00 PM
Copyright Business Wire 2008
FORT WORTH, Texas--(BUSINESS WIRE)-- Hemi Energy Group, Inc. (Pink Sheets: HMGP) today announced that XTO Energy (NYSE: XTO) recently commenced drilling a multi-well Barnett Shale project encompassing two of the Company Sycamore Heights oil and gas leases.
Chesapeake Operating has filed for drilling permits with the Texas Rail Road Commission to drill a multi-well Barnett Shale project encompassing our Exchange Avenue and NW 23rd Street oil and gas leases.
Rather than direct sale of these holdings, Hemi chose to allow these lease holding to become part of a larger "pooled" master lease(s), in a passive non operated royalty position in these Barnett Shale projects. The Company expects to see additional activity in it's remaining Barnett Shale holdings in the near term. These leases will in turn become passive non operated royalty positions.
President Keith A. Anderson: "Urban drilling has slowed in Fort Worth and Tarrant County due in part to the down turn in the oil and natural gas prices. As drilling has slowed, so has much competitive leasing programs. We are taking advantage of this slow down, by selectively acquiring and growing our Royalty portfolio of 'Tarrant County leases' in areas we feel has the highest probability of successful Barnett Shale drilling potential."
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