American Community Development, Inc., Announces a Drilling Plan for Their Sofia Oil & Gas Exploration Project in New Mexico
American Community Development, Inc. (PINK SHEETS: ACDP), announces a drilling plan for their Sofia Oil & Gas Exploration Project in New Mexico.
ACDP has set in motion a plan to drill up to 6 wells on the Sofia Oil & Gas Exploration Project in New Mexico. The plan is to spud the first well in September of this year, which will be drilled to a depth of approximately 4,500 feet. As mentioned in our web site www.acdp-ir.com, the 4300 to 4500 foot level has never been tested and we believe it could contain a very prolific zone. Up hole from this level are multiple zones that have had showings of oil and gas in previous drill holes. The plan is to use our seismic data results to direct us to move up dip in the dome structure to hopefully encounter these same zones of reservoir rocks containing oil and gas in significant commercial quantities.
Management Comment: "ACDP considers itself fortunate to have the opportunity to participate in such a large scale oil and gas play resident onshore in the USA. The combination of continued restrictions on offshore drilling, turmoil in the far east, and surging oil prices (recently over $100 per barrel), all of which affects demand - supply balance; makes this an attractive and timely business opportunity to fast track shareholder value."
About American Community Development, Inc.:
ACDP is an emerging domestic oil and gas company, and will be focused on exploiting oil and gas reserves onshore within the USA. ACDP is in the process of assembling a seasoned team of managers and technical professionals in the areas of geology, geophysics, engineering, and legal. ACDP is positioning itself for aggressive asset growth and shareholder value enhancement.
American Community Development, Inc.
Bruce A. Thomson, B.A.Sc.; President & CEO
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the Company and its operations, are included on certain forms the Company files with the Securities and Exchange Commission.
Contacts:
American Community Development, Inc.
Bruce A. Thomson, B.A.Sc.
President & CEO
702-605-0145
info@acdp-ir.com
www.acdp-ir.com