Energy Revenue America, Inc. Announces a Contract to Transport Natural Gas for a Third Party via Their 65 Mile Pipeline in No...
17 January 2014 - 1:00AM
Marketwired
Energy Revenue America, Inc. Announces a Contract to Transport
Natural Gas for a Third Party via Their 65 Mile Pipeline in Nowata
County, Oklahoma
After Re-Opening 10 Existing Wells in Mid-December, Energy
Revenue America, Inc. Has Signed a Contract to Transport Natural
Gas for a Third Party via Their 65 Mile Pipeline
DALLAS, TX--(Marketwired - Jan 16, 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 provide a production update on the
Company's 3,100 acres in Nowata County, Oklahoma. After announcing
the reopening of 10 existing wells last week, the company has now
secures a contract to transport natural gas for a 3rd party
utilizing their 65 mile pipeline.
This is the second leg of a 2014 strategy that Energy Revenue
America, Inc. has developed to (1) re-open 30 existing wells, (2)
transport natural gas for others and (3) drill new wells. This
is a significant milestone and moves Energy Revenue America, Inc.
into a company producing revenue from multiple sources and the
establishment of a strong base to begin 2014.
"Utilizing our 65 mile pipeline to haul gas for a third party
has always been a significant part of our strategic plan," stated
Charles H. Havens, ERA's Chairman and Chief Operating Officer. "Our
team moved quickly to bury the feeder pipe to connect to the 3rd
party wells and our customer was able to connect faster than we had
planned. We expect additional wells will be added in the next
several months from this same customer."
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
Energy Revenue America (PK) (USOTC:ERAO)
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