CALGARY, Alberta, Feb. 2, 2007 (PRIME NEWSWIRE) -- Tyche Energy Inc. (Pink Sheets:TYEG) have completed the seismic field test report on their Dunwich Township Acreage. The N2 vision seismic interpretation evaluation has concluded an excellent target. The Company is confident that they have a well that can produce up to 5,000 mcf/gas per day. Recent discoveries from the Grimsby formation nearby have resulted in proven gas reserves of up to 2.0 BCF per well.
"The Company remains steadfast on its path to exploit demand for oil and gas on the North American continent. This, along with the potential utilization of the hydroslotting technology, make for an extremely powerful and expeditious combination. This is an incredible find and opportunity. The perseverance over this course of time has paid off. We are moving ahead with our growth initiatives and remain firm in our belief in the future of the domestic oil and gas sector," stated Tyche President, Leo Lodder.
The Company expects to begin drilling of the targeted well located in Elgin County, Ontario in early February.
Website: www.tycheenergy.com
About Tyche Energy Inc.
Tyche Energy Inc. operates exploration projects through joint ventures in the Appalachian Basin and owns interests in a number of petroleum and natural gas leases in Elgin, Middlesex, Lambton, Kent, and Essex Counties, Ontario. In addition to its main operating focus, the Company is actively exploring projects in the Appalachian and Michigan Basins.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause 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. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.