VANCOUVER, British Columbia, June 14, 2005 (PRIMEZONE) -- Emerson Oil and Gas, Inc., (Pink Sheets:EOGI) is pleased to announce that it has been informed by the operator that a drill rig has been contracted for the Acadia Project in South-Eastern Alberta.
The Company has a 51% working interest in the Acadia Project. The Acadia Project is a natural gas play that consists of multiple natural gas and oil targets within several objectives. The lands surrounding the Acadia Project are currently producing both gas and oil from various fields in Alberta. Geology and structures at the Acadia Project show high promise for productive oil and gas.
The Viking zone, located 280 feet above the Colony, contains natural gas in wells contiguous to both southwest and north sides of the Project. Mapping indicates that the reservoir continues under the Project land. Pressure analysis of producing gas wells shows that 16 Bcf of natural gas were originally in place in the Viking reservoir contiguous to the Project on the north side. Over 2 Bcf of that gas has been produced from 6 gas wells leaving over 13 Bcf in the reservoir. Gas is present in two wells immediately south of the leases.
As mentioned previously, Emerson also maintains a carried working interest of 12.5% before payout and a 18.75% working interest after payout in both the W.T. Davis and the Rinsland Estate No. 1 well in Bossier Parish, Louisiana. The company's partner, Polar Resourses plans to finish the re-completion of Rinsland Estate No. 1 well and to tie it into an existing pipeline. The plan for the W.T Davis well is to run a pipeline to the Rinsland Estate No. 1 well hookup and to test the W.T. Davis well for long term production.
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Emerson Oil and Gas Inc. has little or no control.
For more information, please visit our website www.emersonoilandgas.com