Well Renewal Provides Update for Birdsell 999-05 Gas Well in Northeastern Oklahoma
Well Renewal, Inc provides an update to the estimated completion data of their gas well in Nowata County, Oklahoma.
Tulsa, OK, February 12, 2007 --(PR.com)-- Well Renewal, Inc. (OTC.PK:WRNW) provided today an update to the January 9, 2007 news release concerning the Birdsell 999-05 gas well in Northeastern Oklahoma. The completion of the Birdsell 999-05 gas well was to be concluded during the month of January, 2007; however, the completion was delayed due to extreme adverse weather conditions experienced in the NE Oklahoma basin during the month of January.
Well Renewal expects the completion of the Birdsell 999-05 to occur in late February to early March. During this period of delay, the company engineers and geologists have been studying the oil and gas wells drilled and completed on leases offsetting Well Renewal’s Liston lease where the Birdsell gas well is located. The open-hole log from the Birdsell 999-05 gas well compares very favorably to producing wells of other operators located on leases adjoining the Liston lease. In addition, the gas indicators from the open-hole log suggest that a successful completion of the Birdsell 999-05 gas well will yield initial production rates of 75-125 MCF per day from the Pennsylvanian coal seam in the well.
Will Gray, CEO of Well Renewal, stated, “We are extremely excited and energized concerning the completion of the Birdsell 999-05 gas well. The weather delays have not lessened our enthusiasm for the revenue potential to be realized with the completion of this initial well on the Liston lease. Our geological and engineering staff has identified 14 additional drilling locations on the Liston lease. We anticipate including these new locations in our 2007 drilling and completion budget. Successful completion of the drilling and production of these new wells will significantly impact the revenues and cash flows for Well Renewal during 2007."
About Well Renewal, Inc.
Well Renewal, Inc., headquartered in Tulsa, Oklahoma, is principally engaged in oil and gas exploration as well as enhancement and recovery of abandoned and low production oil properties, oil field services and petrochemical distribution.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
For more information, please contact:
E. Will Gray, CEO
Well Renewal, Inc.
320 S. Boston
Suite 1026
Tulsa, OK 74103
Telephone: 918.585.5101
Facsimile: 918.512.4337
Email: willgray@sbcglobal.net
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Well Renewal expects the completion of the Birdsell 999-05 to occur in late February to early March. During this period of delay, the company engineers and geologists have been studying the oil and gas wells drilled and completed on leases offsetting Well Renewal’s Liston lease where the Birdsell gas well is located. The open-hole log from the Birdsell 999-05 gas well compares very favorably to producing wells of other operators located on leases adjoining the Liston lease. In addition, the gas indicators from the open-hole log suggest that a successful completion of the Birdsell 999-05 gas well will yield initial production rates of 75-125 MCF per day from the Pennsylvanian coal seam in the well.
Will Gray, CEO of Well Renewal, stated, “We are extremely excited and energized concerning the completion of the Birdsell 999-05 gas well. The weather delays have not lessened our enthusiasm for the revenue potential to be realized with the completion of this initial well on the Liston lease. Our geological and engineering staff has identified 14 additional drilling locations on the Liston lease. We anticipate including these new locations in our 2007 drilling and completion budget. Successful completion of the drilling and production of these new wells will significantly impact the revenues and cash flows for Well Renewal during 2007."
About Well Renewal, Inc.
Well Renewal, Inc., headquartered in Tulsa, Oklahoma, is principally engaged in oil and gas exploration as well as enhancement and recovery of abandoned and low production oil properties, oil field services and petrochemical distribution.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
For more information, please contact:
E. Will Gray, CEO
Well Renewal, Inc.
320 S. Boston
Suite 1026
Tulsa, OK 74103
Telephone: 918.585.5101
Facsimile: 918.512.4337
Email: willgray@sbcglobal.net
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Contact
Well Renewal, Inc.
Will Gray
918-585-5101
www.wellrenewal.com
Will Gray
918-585-5101
www.wellrenewal.com
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