PHOENIX, Jan. 6, 2006 (PRIMEZONE) -- The management team of Golden Apple Oil and Gas, Inc. (Pink Sheets:GAPJ) are pleased to announce the company's plans for testing during the first quarter of 2006.
"Our plans for testing are based on the results of previous testing on our site," stated Jay Budd, President and CEO of Golden Apple. "With the completion of additional testing, we will limit our downside exposure, and enhance our ability to drill production wells," Budd went on to say.
The company's Cookshire property has already received positive results from earlier testing, conducted by Quantex Inc, of Quebec. Figures show the IR testing of the extract sample after the evaporation of the solvent. The major absorption peaks are at about 2920, 2848, 1462, and 722 cm, and are characteristic of regular hydrocarbon chains with CH groups. Additional sample testing conducted by SGS Canada Inc. of Montreal Quebec produced a "detected" result indicating petroleum in the soil.
"Based on the original test results, we are very confident that we will produce the anticipated drilling results, with the additional testing planned for the first quarter of 2006," stated Budd.
The company plans on introducing the use of the Affinity System 2000 gravity based geophysical survey. Seismic Testing will follow in the early spring of 2006.
Headquartered in Phoenix, Arizona, Golden Apple is an independent oil and gas producer with a focus on North American properties. The Company applies advanced technologies to systematically explore and develop its oil and natural gas opportunities. Golden Apple focuses its activities where technology can be used effectively to maximize returns on invested capital by reducing drilling risk and enhancing its ability to cost-effectively grow reserves and production volumes.
The Company's common shares are listed on the OTC Pink Sheets: under the symbol GAPJ.
This media release may contain forward-looking statements regarding, but not limited to, management, market potential, distributor success, market size, international sales, marketing, future events and performance of the Company which involve risks and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this media release.