FDMF news>>> Freedom Financial Holdings Announces Additional Acreage in Kansas
2009-03-30 11:22 ET - News Release
FORT WAYNE, IN -- (MARKET WIRE) -- 03/30/09
Freedom Financial Holdings, Inc. (PINKSHEETS: FDMF) CEO Brian Kistler announced today that the Company has added an additional 76 acre lease in Southeastern Kansas.
Kistler commented, "The opportunities are huge. All through the Southeast Kansas area, there are an abundant number of older underdeveloped oil leases that are just waiting for someone to come along and get them back on line."
"The one missing ingredient is KC-9000, the company's proprietary Heavy Oil technology. This additional lease is more acreage just like the 160 acres previously announced. Located in the same area just across the highway, this property, even though it's smaller, could offer just as much or more potential oil recovery as the 160 acres. The additional lease has approximately 35-40 drilled wells less than 200 feet deep," continued Kistler.
The key to the shallow oil, since there is not enough natural pressure, is a catalyst being introduced to push the oil to the well bores. KC-9000 does just that. The unique behavior of KC-9000 allows the technology to be administered from the surface. It penetrates the wells static head reaching the formation and releasing the surface tension of the oil. This action creates gas pressure in the formation that assists in pushing the oil to the well bores.
"Over the course of the last week, we made some significant progress on the first lease. The electrical services have been ordered, but in the meantime the field operators working on the wells are utilizing a generator and 6 barrel test tanks to get the initial wells ready for full time operation. Early tests have shown that two wells located in the middle of the developed field are able to pump 4 barrels of oil in two hours. These wells have shown no sign of slowing down and are only stopped in order to empty the test tanks. The oil shows to be 27-28 gravity with very little water content," stated Kistler.
"There will soon be a total of eight wells ready to pump. After getting the initial six wells on the pump, efforts were dedicated to the two that were pumping the best. While we cannot predict that every well has the potential of pumping 40 barrels per day, we are very encouraged after the first two weeks," concluded Kistler
ABOUT FREEDOM FINANCIAL HOLDINGS, INC.
Freedom Financial Holdings, Inc. is a holding company with a focus on the identification of opportunities in the financial services sector. The Company's objective is to acquire undervalued assets and/or initiate operations in underserved niches. Once established within the FDMF portfolio, the Holding Company will provide the support necessary to enable each of its subsidiaries to maximize their business opportunities. Total shares outstanding as of this release is 331 million with 170 million in the float.
FORWARD-LOOKING STATEMENT
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
Contact:
Freedom Energy International, Inc.
Brian Kistler
260-490-5363 ext 307
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