Palisades Petroleum Corporation: North Buffalo Well Producesadmin
Palisades Petroleum Corporation is pleased to announce that the first well in it’s North Buffalo gas prospect in Chouteau County Montana is a success.
The project operator, Cline Production Company, reported on Monday, February 19, 2007, that Seidler # 173-10 well showed an initial production rate of 280,000 cubic feet of gas per day from a depth of 762 feet. A producing well head was installed and negotiations have been engaged to sell the gas.
The corporate strategy to acquire additional development projects is on target, as per announced in the companies News Release dated April 24, 2006. PAPT’s management team and its industry analysts continue to evaluate a number of advanced properties.
2007 is scheduled to be a very exciting year of drilling for production and advanced property acquisitions.
Further information on the progress of the Companies activities will be presented on a timely basis.
Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and seismic reports; the ability to close the acquisition of Oil and Gas exploration properties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in Palisades Petroleum Corporation filings with the Pink Sheets LLC and may be accessed at http://www.pinksheets.com.
Contacts: Palisades Petroleum Corporation Leslie Rutledge President (702) 948-0659 Email: firstname.lastname@example.org