ST. PETERSBURG, Fla., June 3, 2009 (GLOBE NEWSWIRE) -- Adventure Energy Inc. (OTCBB:ADVE), an energy exploration company with operations in the Appalachian Basin, is pleased to announce that the Company has retained Barrett Oil & Gas, Inc. to purchase production from the Larry Hardin #1 well located in Monroe County, Kentucky.
The Company expects to complete the sale and delivery of its first load of oil from the Larry Hardin #1 well by the end of business on Friday June 5, 2009. The initial sale will be from the production stored in the 65 barrel temporary tank, as well as additional production stored in the permanent tank.
"This is a significant milestone for the Company as we will be able to book our initial revenue from production," said Wayne Anderson, President of Adventure Energy, Inc. "We look forward to developing our leaseholds throughout the remainder of 2009 and into 2010."
About Adventure Energy, Inc.
Adventure Energy, Inc., is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2008.