CHEYENNE, Wyo., Dec. 13, 2005 (PRIMEZONE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) is pleased to announce an update for the week ending Sunday, December 11, 2005. CG Operating reports confirm that drilling had reached a depth of 4580' and had successfully landed in the top of the Fredericksburg formation or the Target Zone.
The curve in the turn has now been completed. The 7" casing is currently being run and lateral drilling is expected to commence today. A well positioned in the productive column of the Fredericksburg could expect stable rates in excess of 200-400 BOPD and associated gas. CG anticipates putting these wells on pump to maintain production levels within the first year in addition to creating a saltwater disposal well to reduce lease operating costs.
"A crew of approximately 20, including the operators, is working around the clock to hopefully bring the Kerr 1-H project to a very successful and nearly on schedule conclusion," said Aziz Hirji, President and Chairman of Amelot Holdings, Inc.
Updates and timelines can also be found at: http://www.amelotholdings.com/project
About Amelot Holdings, Inc.
Amelot Holdings, Inc. is a diversified holding company focused on acquiring under-valued, high-growth firms and properties in the natural resource industry.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
The Amelot Holdings, Inc. company logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=2149