US Natural Gas Corp Acquires One Hundred and Twenty Acres of Mineral Rights in Wayne County, West Virginia
Update on USNG WV Production
ST. PETERSBURG, Fla., Sept. 1 /PRNewswire/ -- US Natural Gas Corp (OTC Bulletin Board: UNGS), an energy exploration company with operations in the Appalachian Basin, announced today that the Company has acquired one hundred and twenty acres of mineral rights in Wayne County, West Virginia.
The acquired mineral rights are located in the Lincoln District, Radnor Quad of Wayne County, West Virginia. The parcel of land associated with the mineral rights is surrounded by several highly productive wells drilled to depths of up to 5000 feet. To date, there has been no exploration or production on the associated parcel of land.
In addition, management is pleased to update shareholders on the Company's continued effort to place the wells acquired in the Wilon Resources, Inc. acquisition into production. Currently, the Company has placed 43 wells into production with delivery into Columbia Gas Transmission's line. The Company projects it will complete the installation of the Sulfa Treat vessels by mid-September, which will allow it to place an additional 6-7 wells into production which have a history of producing hydrogen sulfide. During the current quarter, the Company plans to initiate the Completion project for several partially completed deep wells drilled during the past 3-4 years.
"The acquisition of these mineral rights allows the Company to further expand into an area we believe to be a very viable target for one of our upcoming drilling programs," said Wayne Anderson, President of US Natural Gas Corp. "It is also pleasing to be able to update shareholders on the progress we have made with the wells acquired in the Wilon acquisition. Our daily production levels have shown steady improvement as we implement our rework and completion project."
About US Natural Gas Corp
US Natural Gas Corp is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia. www.usnatgascorp.com
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2009.
Contact:
Del Mar Corporate Consulting, LLC
Ph: 760-448-4081
SOURCE US Natural Gas Corp
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