Energas Announces Wyoming Update

Energas Announces Wyoming Update

Energas Resources, Inc. announced today that the company is currently waiting on the completion rig to move onto the Finley #5 well location in Niobrara County, Wyoming. The completion rig contractor has reported an unexpected delay on their previous job for an unrelated company and plan to move to the Finley #5 location upon conclusion.

“We cannot say at this time when the completion rig will move onto the Finley #5 well, but we are the next in line after they finish their current job. We’re eager to see what this well will produce,” stated Scott Shaw, Vice President.

Review of the Finley #5 mud and electric logs indicate the potential for commercial oil production from zones in the Leo formation at approximately 6,000 ft. Energas will own a 51% working interest in this well and owns a 44% working interest in this property, named the Rusty Creek Prospect, which covers approximately 1,760 acres. Further announcements will be forthcoming.

Safe Harbor Statement

When used in this press release, the words “intends,” “believes,” “anticipated” and “expects” and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties, which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include normal risks associated with oil and gas drilling activities. In addition, adverse weather conditions can hinder or delay operations, as can shortages of equipment and materials or unavailability of drilling, completion, and/or work-over rigs. Even though a well is completed and is found to be productive, water and/or other substances may be encountered in the well, which may impair or prevent production or marketing of oil or gas from the well.

Contact:

Energas Resources, Inc.
Scott Shaw, 405-879-1752

Source: Energas Resources, Inc.

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