InvestorsHub Logo
icon url

Joeiniowa

03/24/05 7:45 AM

#156 RE: shadow43560 #155

News for 'EGSR' - (Energas Hits Boomer Gates #1 well in Kansas)


OKLAHOMA CITY, Mar 24, 2005 (BUSINESS WIRE) -- Energas Resources, Inc.
(OTCBB:EGSR) is pleased to announce that the drilling of the 4th well in
the
Rock Creek Prospect, Kansas has been finished. Electric logs on this well,
named
the Boomer Gates #1-19, have revealed 13 feet of natural gas pay zone and
9 feet
of oil pay zone for a total of 22 feet of pay in the Mississippi zone.
Logs also
indicate that the pay zone has good porosity and permeability. A drill
stem test
reported results of 1,667 psi of shut in pressure with a good show of oil
and
gas. The pay zone in this well came in eleven feet geologically high to
the
Carothers #1-20 well and the zone is twice as developed with a thickness
of 22
feet. The operator has set production casing in the well and is scheduling
a rig
for perforation and completion.

The Rock Creek Prospect covers approximately 2,750 acres and is located
next to
the Stohrville Field, which has produced over 11 BCF of natural gas and
over 1
million barrels of oil. Further announcements will be forthcoming. Energas
owns
a 16.75% working interest in this prospect.