Brighton Oil to Acquire Three New Drilling Rigs
National Healthcare Technology Inc. (OTCBB: NHCT), d/b/a Brighton Oil, announced today that Brighton Oil has executed the purchase contract from Gefco based out of Enid, Oklahoma to acquire three new drilling rigs for a purchase price of $3.6 million. The rigs are rated for depths of 7,000 feet, with an increase in capacity to 10,000 feet using a smaller drill pipe.
Brighton is purchasing the new SpeedStar 185K. This unit is completely mobile with 550HP, turbo-charged diesel engines. The mast is 62 feet 5 inches overall length, allowing 51 feet working space above the breakout table. The tophead is hydrostatically powered with a controlled variable rotation speed ranging from 0 to 140 RPM with maximum torque of 140,000-in. pounds. The pipe racking board can hold 5,000 feet of pipe.
Sam Petrossian, Chief Executive Officer of Brighton Oil, stated, “The acquisition of our own drilling rigs is necessary in order to control the timing of our drilling programs and to also have a significant savings in costs over current market prices for drilling rigs. Current day rates for drilling rigs are running from $25,000 to $35,000 dollars per day. Having our own rigs is a significant savings in the cost to drill our wells.”
About Brighton Oil
Brighton Oil is an oil and gas company with a focus on gulf coast oil and gas prospects and properties. Brighton is careful to develop a thorough drilling plan using advanced technologies in both mapping and the use of 3D seismic reports and information. Brighton Oil trades under the ticker symbol NHCT. For more information on the Company visit www.BrightonOil.com.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words “expects,” “projects,” “plans,” and certain of the other foregoing statements may be deemed “forward-looking statements.” Although Brighton Oil believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices and other risk factors.
Contact:
Empire Relations
Kenneth Maciora
(516) 750-9719
