VANCOUVER, British Columbia, Sept. 22, 2006 (PRIMEZONE) -- Emerson Oil and Gas, Inc. (Pink Sheets:EOGI), a Nevada Corporation, announces that after a successful exploration and discovery of the 11-16 well in Alberta, the company has been informed by the operator that the decreased flow rates have gotten to a level that is now uneconomical.
The 11-16 gas well appears to have depleted a small gas reservoir. The operator is currently evaluating other zones in this well with a view to re-completing other gas zones that may be productive. They are also evaluating the geology of the area to determine if additional drilling of the company interest land is warranted.
The Company has a 49% working interest in the Acadia Project, located in South-Eastern Alberta and also maintains a carried working interest of 12.5% before payout and an 18.75% working interest after payout in both the W.T. Davis and the Rinsland Estate No. 1 well in Bossier Parish, Louisiana.
Emerson's primary operating philosophy is to utilize the most current technology available to develop low risk, high yield, underdeveloped oil and gas reserves. This approach will enable Emerson to capitalize upon previously discovered and producing properties with known reserves that had not been completely exploited due to market conditions.
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Emerson Oil and Gas Inc. has little or no control.
For more information, please visit our website www.emersonoilandgas.com