Energy Revenue America, Inc. Re-Opens Existing Natural Gas Wells and 65 Mile Pipeline in Nowata County Oklahoma
10 January 2014 - 1:00AM
Marketwired
Energy Revenue America, Inc. Re-Opens Existing Natural Gas Wells
and 65 Mile Pipeline in Nowata County Oklahoma
Recent Investments Have Allowed the Company to Re-Open 10
Existing Wells and Transport Natural Gas for Immediate Sale via
Their 65 Mile Pipeline
DALLAS, TX--(Marketwired - Jan 9, 2014) - Energy Revenue
America, Inc. (PINKSHEETS: ERAO), a firm focused on the
acquisition, development and exploration of Coal Bed Methane (CBM)
natural gas, is pleased to announce a production update on the
Company's 3,100 acres in Nowata County, Oklahoma. Ten existing
wells and the re-opening of their 65 mile pipeline have been
completed and were successfully brought online in mid December
2013.
This is a significant milestone and moves Energy Revenue
America, Inc. into a natural gas production mode, generating
revenue and creating internal funding to re-open more existing
wells. ERA has 65 existing wells that can be re-opened on their
3,100 acres. The current goal is to re-open at least 30 of the 65
wells.
"Initial results from the 10 wells have exceeded our
expectations," stated Charles H. Havens, ERA's Chairman and Chief
Operating Officer. "Our team will continue to utilize data gathered
from the initial production of these 10 wells as we develop the
full potential of the 3,100 acres. We expect these 10 wells to
generate 180,000 MCF of natural gas on an annual basis. At current
prices for natural gas this is close to $1M of production."
Energy Revenue America is drilling for natural gas in the
Cherokee Basin in Oklahoma which is located in the Mid-Continent
region in southern Kansas, northern Oklahoma, and western Missouri.
The Cherokee Basin is the eighth largest coalbed methane basin in
the United States and covers approximately 26,500 square miles.
Over the next 5 years Energy Revenue America expects to drill in
excess of 300 wells in the Cherokee Basin. For every well
completed, the reserve value for future gas from the wells becomes
a value to ERA as future income. ERA estimates that gas reserves at
the end of year 2 will exceed $80M and at the end of year 3 over
$150M.
About Energy Revenue America, Inc. Energy Revenue America, Inc.
is focused on the acquisition, development and exploration of
unconventional natural gas projects, primarily Coal Bed Methane
(CBM) and seeks to acquire and develop properties with significant
undeveloped potential and apply technical and operating expertise
to maximize the value of these resources.
FORWARD-LOOKING STATEMENT This release includes forward-looking
statements intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements generally can be identified
by phrases such as INCL or its management "believes," "expects,"
"anticipates," "foresees," "forecasts," "estimates" or other words
or phrases of similar import. Similarly, statements herein that
describe the Company's business strategy, outlook, objectives,
plans, intentions or goals also are forward-looking statements. All
such forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those in forward-looking statements.
CONTACT: Energy Revenue America, Inc. Email Contact Website
www.energy-revenue.com
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