SEATTLE, June 19, 2007 (PRIME NEWSWIRE) -- Worldwide Energy Corporation (Pink Sheets:WWEG) is pleased to announce that the Company's six oil wells, which it acquired from Thacker and Thrash, are completely operational and pumping.
Worldwide Energy Corp. acquired the six wells leases in September of 2006. The Thacker lease has four wells on 14 acres of land with the lease owned by Worldwide Energy. These four wells have approximately 184,676 barrels of primary recoverable oil. The Thrash lease has two wells on six acres of land with 49,589 of primary oil. Worldwide Energy Corp. will produce an estimated total of 234,265 barrels of primary recoverable oil from the six wells.
"We are very pleased with the recent developments at Worldwide Energy Corp. With all of the oil wells in operation, we can generate revenue and acquire additional oil wells in our effort to grow the Company," stated R.Revell Murphy, President of Worldwide Energy Corporation.
Worldwide Energy Corporation recently announced that the Company intends to make an application for listing of its common stock on the American Stock Exchange. The Company is engaged in the acquisition, exploration, and development of properties for production of crude oil and natural gas. Worldwide Energy Corp. plans to acquire additional leases to gain the capital needed to up list to the AMEX or a higher exchange, such as the NASDAQ.
About Worldwide Energy Corp.:
Worldwide Energy is an energy Company engaged in the acquisition, exploration, and development of properties for production of crude oil and natural gas in regions around the world. The Company targets properties with aim to build value for shareholders and produce solid revenue and profitability. The Company has recently focused on Caddo Pine, Louisiana, a region that, according to a March 2005 Department of Energy report, contains over 2 billion barrels of remaining oil in-place, and is the richest field in the Onshore Gulf Coast Basin.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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