FARMINGTON, N.M., March 15, 2006 (PRIMEZONE) -- WW Energy Inc. (Pink Sheets:WWNG) and its subsidiary company, WW Oil & Gas, Inc., today announced commencement of drilling on the Company's "Right Angle" oil and gas exploitation project in the San Juan Basin.
The Company's Right Angle oil and gas exploitation project is located in the highly prolific San Juan Basin of northwest New Mexico, with a primary objective of the Jurassic Entrada Sandstone Formation. During the late 70s, over 2,000 square miles of seismic data encompassing delineated 200-plus sand dunes in the Entrada. According to Vincelette and Chittum in their AAPG paper entitled "Exploration for Oil Accumulations in the Entrada Sandstone, San Juan Basin, New Mexico," a well, which is located within one mile of the Company's leasehold interest, encountered a 24-foot zone of oil saturated Entrada Sandstone.
In the San Juan Basin, over 90% of the cretaceous development wells are successful. Several of the nearby Entrada fields have produced over a million barrels of oil. Testing in those Entrada fields indicate the capacity to produce as much as 20,000 BPD.
Standard spacing for oil wells in New Mexico is 40 acres. The leases in the Right Angle project cover 120 acres, so those leases have room for up to twenty eight (28) wells.
Estimates made on February 15th are restated: In the San Juan Basin there are approximately 33,000 producing wells versus 43,000 and an additional 1,400 new wells per year expected to come on stream over the next 10 years versus 5,000 new wells. Also, WW Oil & Gas Inc. has two exploitation projects encompassing four separate leases. Conoco Phillips, XTO Energy, and British Petroleum as well as several small independents and other oil and gas entities are among 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. The company currently has two exploitation projects encompassing four oil and gas leases in the San Juan Basin area of New Mexico. Comprehensive drilling programs are being developed for full exploitation of these projects. ConocoPhillips, XTO Energy, and British Petroleum are among those companies active in the San Juan Basin.
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). Their 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.