CHEYENNE, Wy., Dec. 29, 2005 (PRIMEZONE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) is pleased to announce the following update for the Kerr 1-H drilling operation.
On December 10, 2005 drilling had reached a depth of 4760' and had successfully landed in the top of the Fredericksburg formation or the Target Zone. Langston Drilling Co. Rig 8 was released a few days prior to Christmas as scheduled.
Subsequent reports from CG operating confirm that during drilling it encountered traces of oil and impressive formation pressure with a substantial flare of gas.
CG Operating is working to locate a more appropriate Rig as soon as possible to continue the drilling including the completion of the lateral total measured depth to approximately 7100'.
"We are all excited at the prospect of bringing the Kerr 1-H project to a successful conclusion and look forward to a very profitable 2006," said Aziz Hirji, President and Chairman of Amelot Holdings, Inc.
Updates 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. logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=2149