VANCOUVER, British Columbia, March 11, 2005 (PRIMEZONE) -- Micron Enviro Systems, Inc. (OTCBB:MSEV) is pleased to announce that it has entered into final negotiations on a new multi-well oil and gas prospect in a world-class producing region of Alberta, Canada. This prospect is located in the Pembina Area, which is the largest conventional oil field in Canada. A final decision on this new prospect is expected to be completed within the next week. This prospect is scheduled to commence operations within the next 10-20 days.
The Stuart 60 #8 Well on the Martex Prospect is scheduled to be fraced on March 18, 2005. The operator stated, "This frac will be the largest we have performed on the Big Saline wells and we hope to increase the flow rate accordingly. We will begin digging a pit to load with the water starting the first half of March. With pit construction time, lining the pit, filling with water, we plan to schedule the frac for March 18th. At this time, we should have everything ready to go to put the well on line without any shut-in time." As soon as this well is completed, the next well on this prospect is expected to commence.
Bernie McDougall, president of MSEV stated, "We are coming into a very active period for MSEV and MSEV's shareholders. We are about to test the Stuart 60 #8 Well in Texas, and if we participate in this new prospect, MSEV will be simultaneously drilling two separate multi-well drill programs. When you consider that oil and gas prices are trading near all time highs, any kind of new discovery or new prospect would be very exciting. MSEV's goal is to become a mid-range oil and gas company, and we hope this month's activities can put us firmly on that path."
MSEV is making a more concerted effort to market itself to prospective shareholders. The marketing campaign has commenced and will be occurring throughout the coming months as drilling results from the Texas and Canadian prospects are announced.
MSEV is an emerging oil and gas company that has both oil and gas producing properties. MSEV's goal is to become a mid-range oil and gas producer that focuses on the exploration, discovery and delivery of gas and oil to the North American marketplace. MSEV currently has 16 independent sources of oil and/or gas revenue. MSEV's production is from ten oil wells in Canada, and six wells producing oil and/or gas wells in Texas. MSEV is presently involved in multiple oil and gas prospects, and continues to look for additional projects that would contribute to building MSEV's market capitalization.
If you have any questions, please call MSEV at (604) 646-6903. If you would like to be added to MSEV's update email list, please send an email to info@micronenviro.com requesting to be added.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors" in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at www.SEC.gov. For all details regarding working interests in all of MSEV's oil and gas prospects or any previous news releases go to the SEC website. You should independently investigate and fully understand all risks before making investment decisions.