SALT LAKE CITY, July 20, 2004 (PRIMEZONE) -- Publicly traded Omega Ventures Group Inc. (OTCBB:OMGV) subsidiary, Western Gas Corporation, announces work program status of BB Gayle No. 1 well.
The Operator (PB Energy Partners) of the BB Gayle No. 1 well at Manahuilla Creek in Goliad County, Texas has informed all participants that unconsolidated sand entered the well creating a sand plug at approximately 3600 feet. A coil tubing truck was brought on site and cleaned the sand from the well. Schlumberger will be arriving on site to begin logging operations on Wednesday July 21, 2004.
When the engineering evaluation of the logging is completed it is anticipated that zones above the original target depth will be perforated to release gas and this is expected to be done by Monday July 26, 2004.
We will keep you updated as the work progresses.
Western Gas Corporation owns a 2.5% working interest (W.I) in the well and 1.875% net revenue interest (NRI).
By the Board of Directors Omega Ventures Group Inc. Western Gas Corporation Investor Relations 136 East South Temple - Roger Reynolds Suite 1600 Suite 1600 - 136 East South Temple Salt Lake City, Utah, 84111 Salt Lake City, Utah, 84111 Tel: 801.363.2599 Tel: 801.363.2599 www.OmegaVenturesGroup.com
The foregoing contains forward looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward looking statements. Without limiting the foregoing, such works as "may", "will", "believes", "anticipates", "estimate", "continue", or comparable terminology intends to identify forward looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors, including but not limited to, the successful negotiation and execution of the definitive acquisition agreement and receipt of certain exhibits and schedules requested by Omega Ventures Group, Inc.