FARMINGTON, N.M., Feb. 21, 2006 (PRIMEZONE) -- WW Energy Inc. (Pink Sheets:WWNG) expects un-audited earnings in excess of $3.0 million for 2006 from its subsidiary WW Trucking Inc.
President Olin Glover is enthusiastic about his company's steady growth:
"Since 2002, we've boosted our revenue by about a half million dollars a year. WW Trucking is an unqualified success in the four states of Utah, Colorado, New Mexico and Arizona (The Four Corners Area). We're currently running at full capacity and demand for our services continues to increase. We expect to expand our fleet again in 2006."
The Four Corners Area includes the San Juan Basin, the Paradox Basin, and the Black Mesa Basin. The San Juan Basin is the third largest gas producing area in the United States. San Juan oil and gas wells generate $325 million annually in federal royalties, half of which goes to New Mexico. Farmington, New Mexico, where WW Energy Inc. is headquartered, is the service center for the area of northwest New Mexico, southwest Colorado, southeast Utah, and northeast Arizona located in the San Juan Basin.
Also, second subsidiary WW Oil & Gas is poised to potentially make a significant contribution to revenue and profits in 2006. Comprehensive drill programs for each of the lease properties in which the company will participate, located in the San Juan Basin, are in various stages of development. Details on each program are expected to be announced shortly. ConocoPhillips, Shell Oil, XTO Energy and British Petroleum are among those companies active in the San Juan Basin.
About WW Energy, Inc.
WW Energy Inc. is a holding company that was created to acquire oil and gas service companies as well as oil and gas related assets through two wholly owned subsidiaries.
WW Oil & Gas Inc., established in 2005, is in the business of acquiring leases and oil and gas related assets. Such acquisitions are for the purposes of development, exploration, and exploitation.
WW Trucking Inc., formed in 1999, is a leading oil and gas services company for the oil field services industry in Utah, Colorado, New Mexico and Arizona (The Four Corners Area). The existing business operations are in transporting fresh production water for oil drilling/exploration and waste water for disposal. They also provide services for heavy hauling of drilling and well equipment needed in the oil and gas production and exploration industry.
A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results of WW Energy Inc. may achieve could differ materially from any forward- looking statements due to such risks and uncertainties, including but not limited to, the fact that no assurance can be given that any proposed acquisitions will be consummated at all.