Hemi Energy Group Inc. Updates Shareholders
June 26 2006 - 1:37PM
Business Wire
This month (June) marks the first-year anniversary of Hemi Energy
Group Inc. (Pink Sheets: HMGP) as a publicly traded company. When
Hemi started in 2001, the oil industry was at a low. The founders
of Hemi, knowing oil and gas would rebound, began acquiring oil and
gas production. President Keith A. Anderson stated, "When we
started, we chose to spread risk by acquiring many small wells with
proven reserves rather than one or two big wells with the thought
that if one or two production wells go down, the field is still
profitable or a new well in the midst of a decline curve." Hemi
presently has assets in a number of states, but for the past year
has concentrated its efforts on attaining further holdings in the
state of Kansas. To date Hemi has established and maintains
excellent relationships with landowners and government agencies,
financial solvency without the burden of debt, and continues to be
on the forefront of development of Enhanced Oil Recovery (EOR)
operations. As for current activities, the company reports that it
remains ahead of schedule for both the infrastructure upgrades and
pilot programs for Enhanced Oil Recovery (EOR) programs at its
Woodson and Montgomery County Kansas Fields. Anderson said, "Of the
71 wells located on southeastern Kansas leases, 24 have been tested
to date with the majority performing significantly higher than our
initial expectations. We feel the initial testing of these wells
will be completed by June 30, 2006. Our Kansas acquisition program
is also advancing ahead of schedule. We feel by the close of this
acquisition program, at the third fiscal quarter in September, we
should acquire between 200 and 400 wells for EOR operations." Hemi
has also scheduled Canadian Geologist E. A. Eddie Hunt of Calgary,
Alberta, Canada. Hunt is to be on site from July 8 through July 22.
Hunt specializes in EOR engineering and field stimulation;
additionally, he will be analyzing coal bed zones for natural gas
reserves, any bypassed (behind pipe) formations, as well as deep
oil and gas formations for any future exploration activities. For
more information:
http://www.stockinformationsystems.com/c/HMGP/index.html Download
an investment brochure: http://www.hemienergy.com "Safe Harbor"
Statement under the Private Securities Litigation Reform Act of
1995 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.
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