Hemi Energy Projects December Oil Production of over 900 Barrels
09 November 2006 - 2:00AM
Business Wire
Hemi Energy Group, Inc. (Pink Sheets HMGP) reports the first
shipment of 180 bbls at $53.70 per bbl has been completed in
November. Hemi Energy will have 3 to 4 shipments of 180 bbls each
completed in the month of November. More oil is produced each month
than can be shipped because partial shipments of less than 180 bbls
cannot be picked up by Plains Marketing, LLP, since safety
regulations control how pickups may be made at tanks in an
oilfield. Extensive rebuilding and reconditioning of equipment and
lease improvement, i.e. electrical lines, road improvements and
underground oil pipeline systems to oil storage tanks, has allowed
improvements to be made to wells. A little over 20 percent of the
wells in the Woodson County, Kansas five leases have now
established base-line production figures, and are reworked
completely and producing oil. Based on improvements being completed
in November, Hemi Energy expects to have more than 900 bbls of oil
production in December. The above lease improvements will enable
Hemi to complete additional wells being reworked and bring more
wells on line. Hemi Energy has approximately four thousand acres on
a lease in southeastern New Mexico near Roswell in Chaves County.
This lease has historic oil production. There have been new wells
drilled by other oil companies that are currently producing, and
new reserves being explored in Eddy and Lea County adjacent to and
south of Chaves County. Hemi Energy also has leases in four
additional states and some of these leases are near major oil/gas
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, in its
history, 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
http://hemienergy.com or
http://www.stockinformationsystems.com/c/HMGP/index.html Safe
Harbor Provision Statements in this press release relating to
plans, strategies, economic performance and trends, projections of
results of specific activities or investments, and other statements
that are not descriptions of historical facts may be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking information is inherently subject to
risks and uncertainties, and actual results could differ materially
from those currently anticipated due to a number of factors, which
include, but are not limited to, risk factors inherent in doing
business. Forward-looking statements may be identified by terms
such as "may," "will," "should," "could," "expects," "plans,"
"intends," "anticipates," "believes," "estimates," "predicts,"
"forecasts," "potential," or "continue," or similar terms or the
negative of these terms. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements. The company has no obligation to update these
forward-looking statements. Hemi Energy Group, Inc. (Pink Sheets
HMGP) reports the first shipment of 180 bbls at $53.70 per bbl has
been completed in November. Hemi Energy will have 3 to 4 shipments
of 180 bbls each completed in the month of November. More oil is
produced each month than can be shipped because partial shipments
of less than 180 bbls cannot be picked up by Plains Marketing, LLP,
since safety regulations control how pickups may be made at tanks
in an oilfield. Extensive rebuilding and reconditioning of
equipment and lease improvement, i.e. electrical lines, road
improvements and underground oil pipeline systems to oil storage
tanks, has allowed improvements to be made to wells. A little over
20 percent of the wells in the Woodson County, Kansas five leases
have now established base-line production figures, and are reworked
completely and producing oil. Based on improvements being completed
in November, Hemi Energy expects to have more than 900 bbls of oil
production in December. The above lease improvements will enable
Hemi to complete additional wells being reworked and bring more
wells on line. Hemi Energy has approximately four thousand acres on
a lease in southeastern New Mexico near Roswell in Chaves County.
This lease has historic oil production. There have been new wells
drilled by other oil companies that are currently producing, and
new reserves being explored in Eddy and Lea County adjacent to and
south of Chaves County. Hemi Energy also has leases in four
additional states and some of these leases are near major oil/gas
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, in its
history, 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
http://hemienergy.com or
http://www.stockinformationsystems.com/c/HMGP/index.html Safe
Harbor Provision Statements in this press release relating to
plans, strategies, economic performance and trends, projections of
results of specific activities or investments, and other statements
that are not descriptions of historical facts may be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking information is inherently subject to
risks and uncertainties, and actual results could differ materially
from those currently anticipated due to a number of factors, which
include, but are not limited to, risk factors inherent in doing
business. Forward-looking statements may be identified by terms
such as "may," "will," "should," "could," "expects," "plans,"
"intends," "anticipates," "believes," "estimates," "predicts,"
"forecasts," "potential," or "continue," or similar terms or the
negative of these terms. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements. The company has no obligation to update these
forward-looking statements.
Hemi Energy (GM) (USOTC:HMGP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hemi Energy (GM) (USOTC:HMGP)
Historical Stock Chart
From Jul 2023 to Jul 2024