Worldwide Energy Announces Acquisition of Two Oil and Gas Leases
Worldwide Energy Corp., an energy company engaged in the acquisition, exploration, and development of properties for production of crude oil and natural gas, is proud to announce it has acquired its two Oil and Gas Leases. The two leases named the Thrash and the Thacker lease consist of a total of 6 wells.
The Thrash and Thacker lease are located in Northern Louisiana in the Lake Caddo Parrish. The 6 wells are in the process of being repulled and turned back on and should be completely online in the next month.
The Caddo Pine Island Field sits on top of the Sabine uplift, which happens to be the strata graphic uplift structure common in North Louisiana. Due to this uplift, many of the formations on top of it became excellent reservoir rocks for hydrocarbons. Impervious formations (cap rocks) create traps that allow the oil and gas to accumulate underneath and under great pressure. The Caddo Pine Island Field produces oil & gas from multiple zones including the shallow Annona Chalk formation (1500′ – 1800′) to the Cotton Valley formation (10,000′ – 12,000′).
Revell Murphy, CEO of Worldwide Energy, stated, “We feel positive about the prospects of these two leases and expect to see immediate results from these projects. We look forward to updating our shareholders with the progress of each well as the information will be available. Concurrently we are looking for other leases in the same region and hope to announce further acquisitions shortly.”
About Worldwide Energy
Worldwide Energy is an energy company engaged in the acquisition, exploration, and development of properties for production of crude oil and natural gas in regions around the world. The Company focuses on properties that will be able to build value for shareholders and produce solid revenues and profitability. The company has recently focused on Caddo Pine, Louisiana, a region which according to a March 2005 Department of Energy report contains over 2 billion barrels of Remaining Oil in-Place, and is the richest field in the Onshore Gulf Coast Basin.
To Learn More About Worldwide Energy, Please Visit: http://www.worldwide-energy.com
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words “plan,” “expect,” “believe,” and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
Contact:
Jim Gorney (734) 306-7575 investor@worldwide-energy.com
Source: Worldwide Energy Corporation
