Hemi Energy Group Aggressively Acquiring Additional Oil Properties in Face of Increased Worldwide Oil Crisis
13 July 2006 - 2:05AM
Business Wire
Hemi Energy Group Inc. (Pink Sheets: HMGP) is continuing its
aggressive acquisition program to acquire additional oil properties
in Montgomery County, Kan. Keith A. Anderson, Hemi's chairman and
CEO, stated, "Our pursuit of these proved and unproved oil reserves
in Kansas demonstrates evidence of efficient use of existing and
significant oil reserve and production. Hemi is specifically
targeting the southeastern Kansas region because the mature fields
in Kansas respond so well to our enhanced oil recovery techniques.
As a company, we are increasingly concerned that U.S. strategic oil
reserves have fallen to new lows, that Saudi Arabia will not be
able to meet worldwide oil demand, and Royal Dutch Shell, the third
largest oil and gas company, recently announced it will not meet
its expected production numbers. In addition, the International
Energy Agency predicts that Russian oil production will fall short
of expectations over the next four years. We are definitely facing
an oil crisis and must do all we can to increase production." About
Hemi Hemi Energy Group is an independent crude oil and natural gas
producer employing a unique business model capitalizing on
technological advances to exploit mature fields with millions of
barrels of proven oil remaining in the ground. Using attractive
lease/royalty packages, Hemi has secured tens of thousands of acres
of productive, domestic projects. The company's forward-thinking
strategy has placed it in an enviable position at a time when
prices and global demand for oil continue to rise. Building on
decades of experience in enhanced oil recovery, Hemi has
successfully amassed a substantial and attractive portfolio of
these high-quality domestic properties. By streamlining operations
through cutting-edge technologies, Hemi has the ability to operate
more effectively and efficiently than larger oil companies. For
additional information, please go to www.hemienergy.com. or
http://www.stockinformationsystems.com/c/HMGP/index.html. Safe
Harbor Provision This press release may contain forward-looking
information within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934, and
is subject to the safe harbor created by those sections. Examples
of such disclosures would be statements regarding "probable,"
"possible," or "recoverable" reserves among others. There is no
guarantee that the projects that Hemi Energy Group has recently
acquired will increase the value of its shares of common stock, or
that Hemi Energy Group will acquire rights to explore and operate
any other such projects, or that in the event that it acquires
rights to explore and operate other such projects, that these
actions will be successful or increase the value of Hemi Energy
Group's common stock. There are many factors that could cause our
expectations and beliefs about our plans to acquire additional
exploration or production properties, including our plans to drill
or our drilling results to fail to materialize; competition for new
acquisitions; availability of capital; unfavorable geologic
conditions; the complexity of coal bed methane exploration and
production; and prevailing prices for natural gas and general
regional economic conditions. Hemi Group assumes no obligation to
update the information contained in this press release.
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