VANCOUVER, British Columbia, April 7, 2006 (PRIMEZONE) -- Micron Enviro Systems, Inc. (OTCBB:MSEV) (Frankfurt:NDD) ("Micron") wishes to announce that management is currently evaluating acquiring interests in additional Alberta Oil Sands prospects.
Bernie McDougall, President of Micron stated, "We strongly believe that the Alberta Oil Sands are going to be the key to the future of Micron's growth. We are extremely excited that we are currently involved in one prospect, but we are not content with only one. We are actively evaluating acquiring interests in additional Alberta Oil Sands prospects and we are optimistic that we can complete on a new prospect within the second quarter of 2006. When you couple our Athabasca Oil Sands Prospect with the conventional drilling we are involved in and the near all time highs of oil and gas prices, we are excited about the potential of future growth for our shareholders. Our goal is to become a mid-range oil and gas company and we feel by acquiring interests in the massive Alberta Oil Sands, we are making strides in achieving this goal."
Micron recently announced its entry in the Athabasca region of Alberta, Canada, which is the world's largest Oil Sands region. This new Oil Sands project is located just south of Fort McMurray, Alberta, and is in close proximity to major Oil Sands projects by Devon, Encana, and Cononco Philips. At a recent presentation, Encana's COO stated that Encana's Christina Lake Prospect, which is within 15 miles of Micron's new prospect, could grow to produce 250,000 barrels per day. The closest Oil Sands project adjacent to Micron's new project is the Whitesands Project that has stated reserves of 1.3 billion barrels of oil in place and has just initiated the start-up of a test plant.
The Oil Sands of Canada hold recoverable reserves of 175 billion barrels with a proven reserve life of 480 years and another 130 billion barrels of potential reserves, which is second only to Saudi Arabia's 262 billion barrels. As a comparison, the United States has only 29 billion barrels of recoverable reserves and has decreasing domestic production while their demand is increasing by 1-2% every year. Canada is in an optimal position to supply oil to the U.S. with its favorable political climate, close proximity and being one of the few non-OPEC countries which can grow its oil production.
Micron is an emerging oil and gas company that has exposure to the Athabasca Oil Sands of Alberta, Canada, which is the largest Oil Sands region in the world, and has production from multiple conventional oil and gas wells. Micron is one of if not the smallest market capitalized companies with exposure to the Alberta Oil Sands. Micron's goal is to become a junior oil and gas producer that focuses on the exploration, discovery and delivery of gas and oil to the North American marketplace. Micron currently has multiple independent sources of oil and/or gas revenue from production in Canada and Texas. Micron is presently involved in multiple oil and gas prospects, and continues to look for additional projects that would contribute to building Micron's market capitalization, including additional Oil Sands projects.
If you have any questions, please call Micron at (604) 646-6903. If you would like to be added to Micron's update email list, please send an email to info@micronenviro.com requesting to be added.
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors" in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at www.SEC.gov. For all details regarding working interests in all of MSEV's oil and gas prospects or any previous news releases go to the SEC website. You should independently investigate and fully understand all risks before making investment decisions.