US Natural Gas Corp Update on Foam Acid Treatment of Hammonds Well
ST. PETERSBURG, Fla., Sept. 27 /PRNewswire/ -- US Natural Gas Corp (OTC Bulletin Board: UNGS), an energy exploration company with operations in the Appalachian Basin is pleased to announce that on September 20, 2010 a foam acid fracture was completed on the Hammonds #1 well located in Russell County, Kentucky.
The Hammonds #1 well is located in the Creelsboro quadrangle and was originally drilled in to a total depth of 1740 feet in 1985. The treatment process was completed by Universal Well Services with a 75% acid to nitrogen pressurized fluid delivery. After completion of both a down hole camera study and electric log, management elected to isolate treatment to the Stones River formation from 950-970 ft. Prior to the foam acid treatment, the well produced on average 1-2 barrels of oil per week. Upon completion of the treatment, the well produced 23 barrels within the first 24 hours and is producing on average 5 barrels daily.
"We are very encouraged with the initial oil show following completion of our first foam acid treatment," stated Wayne Anderson, President of US Natural Gas Corp. "Given the success of this well and the number of previously drilled and producing wells on our leasehold base within close proximity, we plan to reenter and treat select wells after further studies are completed."
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 with core assets consisting of 17,000 acres of mineral rights leases and interest in approximately 150 oil and gas wells. 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: |
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US Natural Gas Corp |
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Shannon Bell, Executive Assistant |
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(727) 824-2800 |
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SOURCE US Natural Gas Corp
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