ATLANTA, Feb. 14, 2007 (PRIME NEWSWIRE) -- Knight Energy Corp., (Pink Sheets:KNEC) is pleased to announce that on February 12, 2007, the company filed a Form 10-SB with the Securities and Exchange Commission. The purpose of the Form 10-SB is to enable Knight Energy Corp., to be a publicly reporting company under the Securities Exchange Act of 1934, which includes the filing of Forms 10-KSB and Forms 10-QSB. This process involves review and comments by the SEC, and corresponding modification to the form 10-SB by Knight Energy Corp. until all the SEC comments have been satisfied.
Knight Energy Corp is a client company of Nortia Capital Partners, Inc. Pink Sheets:NCPN
About Knight Energy Corp.
Knight Energy Corp. (Knight) was formed on March 2, 2006 for the purpose of operating and developing energy related businesses and assets, including, without limitation, the acquisition, exploration and development of natural gas and crude oil, the acquisition and operation of drilling rigs and/or gathering systems and/or pipelines for natural gas and/or crude oil, and other related businesses. We acquired 75% of our wholly-owned subsidiary, Charles Hill Drilling, Inc.; a Nevada corporation based in Texas, in March 2006 and then purchased the remaining 25% in May 2006. Through Charles Hill Drilling, we own a 100% working interest in a 160-acre oil and gas lease located in Stephens County, Texas, together with a drilling rig that we are using to drill wells for our own account. On this lease, we have drilled and completed the A-8 well, and re-entered, deepened and completed the A-7 well -- both to a depth of approximately 4,200 feet. As of January 30, 2007, both of these wells are producing oil with a high ratio of frac water. We also have placed compressors on three previously capped shallow wells, and as of February 1, 2007, we were receiving an aggregate of approximately three barrels of oil and ten mcf of natural gas per day from these three wells. In addition, we have leased an additional 400 acres that run contiguous to our 160-acre lease, and we have the right of first refusal on approximately 3,100 more acres in the same area. As of February 1, 2007, we were conducting a satellite imaging program covering all 3,660 acres in the Stephens County area. In addition, in January 2007, we acquired a 75% working interest in an additional lease covering 640 acres in Stephens County, Texas, which we also intend to explore and develop.
In November 2006, we acquired an oil and gas lease covering approximately 1,000 undeveloped acres in the Salt Creek Prospect area of Oklahoma. We intend to conduct a satellite imaging program to further evaluate this acreage and also intend to pursue the acquisition and/or investment in other energy-related businesses, assets, and/or investments, as opportunities, time and available capital will permit.
Knight is currently reviewing acquisitions and investments in the oil and gas industry as well as other energy related businesses and assets. Additional information can be found by visiting its website at www.knightenergycorp.com.
Forward-Looking Statements:
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, including any statements as to beliefs, plans, expectations, or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining oil and gas prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.