Energy Revenue America, Inc. Moves Into Natural Gas Revenue Producing Mode
November 21 2013 - 10:26AM
Marketwired
Energy Revenue America, Inc. Moves Into Natural Gas Revenue
Producing Mode
Recent Investment Will Allow the Company to Aggressively Pursue
Reopening Existing Wells, Complete Several New Wells and Extend
Their 65 Mile Pipeline
DALLAS, TX--(Marketwired - Nov 21, 2013) - Energy Revenue
America, Inc. (PINKSHEETS: ERAO), a firm focused on the
acquisition, development and exploration of Coal Bed Methane (CBM)
natural gas, today announced initial funding that will move the
company into a revenue producing mode.
This initial funding will give the company the funds needed to
complete two new wells, reopen 7 existing and extend their pipeline
to carry gas for a 3rd party. The company is seeking "longer term
funding" and is in serious discussions with several additional
funding sources.
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.
"This funding represents a very significant validation of our
company and our ability to extract Coal Bed Methane gas from our
3,100 acres in Nowata County, Oklahoma," said Charles H. Havens,
Chairman & COO, Energy Revenue America, Inc. "We will use this
initial funding to 'shore up' our infrastructure, put new wells
into service, reopened existing wells, and provide a solid platform
to grow the company. We extend our thanks to all our investors for
their support during these challenging times."
Over the next 5 years Energy Revenue America expects to drill in
excess of 500 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 ERA 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)
Historical Stock Chart
From Sep 2024 to Oct 2024
Energy Revenue America (PK) (USOTC:ERAO)
Historical Stock Chart
From Oct 2023 to Oct 2024