Doxa Acquires New McMullen County, Texas Project and Commences Operations
21 January 2011 - 1:00AM
Marketwired
Doxa Energy Ltd. (TSX VENTURE: DXA)(OTCBB: DXAEF)(FRANKFURT: 5D0)
("Doxa" or the "Company") is excited to announce that it recently
closed on the acquisition of a 14.0625% leasehold working interest
under approximately 1,412 gross acres comprising the County Line
Prospect in McMullen County, Texas. Furthermore, on January 12,
2011 drilling operations were commenced on the initial test well on
the prospect, being the Martin-State Gas Unit No. 1. This initial
well, which will be drilled vertically to a proposed total depth of
11,800 feet, will be targeting various Wilcox formation sands below
7,500 feet. Several of the objective sands are prolific commercial
producers on trend and within two miles of the Martin-State Gas
Unit No. 1 location. Hurd Enterprises, Ltd. of San Antonio, Texas
is the designated Operator of the project.
About Doxa Energy:
Doxa Energy Ltd. is an oil & gas production/exploration
company concentrating on onshore only projects primarily in the
State of Texas with a mix of unconventional (including the Eagle
Ford Shale) and conventional projects. Doxa is committed to
becoming a leading oil & gas company, achieving superior
financial and operating results while simultaneously utilizing
sound business, social, environmental and safety practices.
Additional information on Doxa is available on the Company's
website www.doxaenergy.com.
John D. Harvison, President, Chief Executive Officer
Statements in this press release other than purely historical
information, including statements relating to the Company's future
plans, objectives or expected results, constitute forward-looking
statements. Forward-looking statements are based on numerous
assumptions and are subject to the risks and uncertainties inherent
in the Company's business, including risks inherent in oil and gas
exploration and development, and uncertainties in connection with
anticipated commodity prices for oil and natural gas, growth of
worldwide market demand, exploration capital requirements, length
of asset life and availability of qualified personnel, among others
As a result, actual results may vary materially from those
described in the forward-looking statements.
All references in this press release to BOE are based on a 6 Mcf
to 1 Bbl conversion ratio. BOE's may be misleading particularly if
used in isolation. A BOE conversion of 6 Mcf to 1 Bbl is based on
the energy equivalency conversion method primarily applicable at
the burner tip and does not represent a value equivalency at the
wellhead.
This new release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of the Company in
the United States. The securities of Doxa have not been registered
under the U.S. Securities Act of 1933, as amended, or any state
securities laws, and may not be offered or sold in the United
States or to or for the account or benefit of a U.S. person unless
so registered or pursuant to an available exemption from the
registration requirements of such Act or laws.
Neither TSX Venture Exchange nor its Regulation Services
providers (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Doxa Energy Ltd. Scott Parsons Director 604.642.2625
Doxa Energy Ltd. Paul McKenzie Director 604.642.2625 604.642.2629
(FAX) info@doxaenergy.com www.doxaenergy.com
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