LITTLETON, Colo., April 9, 2007 (PRIME NEWSWIRE) -- Eternal Energy Corp. (OTCBB:EERG) has drilled the Laurel Valley 14/28a-5 well to total depth. It was evaluated and plugged and abandoned as no hydrocarbons were encountered in commercial quantities. The drilling of the well has fulfilled the terms and conditions of the farm-in agreement and Eternal Energy Corp. has earned a 9.1875-per-cent interest in Seaward production licenses P1089 and P1295.
EERG has now turned its focus to the Quad 41/42 North Sea gas project with Lundin Petroleum, its Mississippian-Chainman shale project at Big Sand Spring Valley in the Great Basin of Nevada, and its participation on the development of a large oil and gas resource opportunity in Western Canada.
About Eternal Energy Corp.:
Eternal Energy Corp. is an oil and gas company engaged in the exploration for petroleum and natural gas in the state of Nevada and the North Sea. The company was incorporated in Nevada on July 25, 2003 to engage in the acquisition, exploration, and development of natural resource properties.
Forward-Looking Statements:
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to prospects for success in these initial drilling activities. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of Eternal Energy Corp. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, planned capital expenditures, future funding sources, anticipated sales, potential contracts, dependence on existing management, financing activities, and domestic and global economic conditions.