CISCO, Texas, Aug. 24, 2005 (PRIMEZONE) -- Energy Finders, Inc. (Pink Sheets:EGYF), a Florida corporation dedicated to the goal of being a large independent in the exploration and production of oil and natural gas, today announced the preliminary geological information of its negotiating acquisition of the first initial block of oil and gas properties.
The extensive preliminary geological analysis of the project area indicates a large deposit of heavy oil at a depth of 1,000 to 1,200 feet in the Trinity Sands. Marble Falls Reefs occur at depths of about 4,200 feet and contain abundant natural gas.
The Trinity Oil Sands at 1,000 feet depth have a total thickness of more than 70 feet and over 65% oil saturation, 30% porosity and thousands of millidarcies of permeability.
Oil saturation can be estimated at 25 million barrels of oil in place per 640 acre section. A very conservative recovery factor of 12.5% has been used for all calculations. The Trinity Sands, with millions of barrels of oil in place over a large area, were laid down upon an Angular conformity with the Pennsylvanian age Canyon and Strawn formations.
The Marble Falls gas structures have been mapped in multiple reefs through out the Prospect Area. Marble Falls wells are expected to produce a minimum of 250 MMCFG (.250 BCF) of natural gas per well, based on previous production histories.
The company believes that this Southwest, Texas project has very strong potential for developing significant oil and gas reserves based on its preliminary geological analysis.
About the Company
Energy Finders, Inc. is a U.S. based company dedicated to the goal of being a large independent in the exploration and production of oil and natural gas. The company's mission is to create value for our shareholders by applying strong technical expertise to strategies that will unlock substantial oil and gas resources in areas where production can be achieved quickly and efficiently.
Forward-Looking Statement
The statements in the press release that relate to the company's expectations with regard to the future impact the company's results from acquisitions or actions in development are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since the information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.