First Wells Drilled in Miller Petroleum's Koppers South Program are Commercial Gas Wells
09 June 2006 - 11:00PM
PR Newswire (US)
HUNTSVILLE, Tenn., June 9 /PRNewswire-FirstCall/ -- MILLER
PETROLEUM, INC. (OTC:MILL) (BULLETIN BOARD: MILL) announced today
the successful drilling of the first commercial gas wells in the
Koppers South program through its joint venture Wind Mill Oil &
Gas, LLC. and continuing development of the 22,000- acre lease in
Campbell County, Tennessee. "We encountered productive horizons in
the Big Lime and Devonian Shale on the Koppers South 34B and 38B,
with total depths to 3720' and 3600' respectively. We have run
production casing and expect to perforate the pipe and stimulate
these wells within the next 10 days. Based on the results of these
first two wells, we are planning to continue our development of
this prospect," said Deloy Miller, CEO, Miller Petroleum. Koppers
South is expected to produce hydrocarbons from the Mississippian
age "Big Lime" formation and the Devonian age "Chattanooga Shale"
formation. The Company has already established oil production on
the eastern portion of this lease and has now established the
presence of natural gas on the western section. "We have an
excellent land position in this area with contiguous acreage as
well as an excellent contract for the sale of our gas. Now that the
first commercial wells have been drilled, we look forward to an
aggressive development of this property. We anticipate that the
production income will add significantly to our cash flow," noted
Miller. Miller Petroleum, Inc. is a publicly traded, fully
integrated, gas and oil exploration and production company with
headquarters in Huntsville, Tennessee. Forward-looking statements
made in this release are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that all forward looking statements involve
risk and uncertainties which may cause actual results to differ
from anticipated results, including risks associated with the
timing and development of the company's reserves and projects as
well as risks of downturns in economic conditions generally, and
other risks detailed from time to time in the company's filings
with the Securities and Exchange Commission. DATASOURCE: Miller
Petroleum, Inc. CONTACT: Deloy Miller, CEO of Miller Petroleum,
Inc., 1-423-663-9457, or Web site: http://www.millerpetroleum.com/
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