Hemi Energy Projects February Oil Production to Be Over 1400 Barrels
December 12 2006 - 1:53PM
Business Wire
Hemi Energy Group, Inc. (Pink Sheets HMGP): Hemi Energy will
complete five shipments each of 180 bbls of oil from its Kansas
leases in December. Increasing the rate of development and
additional funding in December will bring more re-worked wells on
line in January, therefore February production will increase to
over 1400 bbls. We project that approximately 50% of the wells in
the Woodson County, Kansas lease area will have been completely
reworked by then and have a new base-line oil production
established. Hemi is in the final stages of negotiations for
additional leases and expanding their presence in Kansas. In
December, as in November, additional financial entities have
contacted Hemi Energy with offers to acquire stock or to
participate in new well development. We are comparing the options
proposed, that are consistent with Hemi's stated objectives of
safeguarding our stockholder's interest, but will still allow for
expediting new well development on our Kansas oilfield. More than
70% of Hemi's stock is closely held by management, institutions,
lease mineral owners and large investors. Therefore, this group of
investors has a long term goal and is not significantly affected by
short term market price swings. Hemi's plan for development of
leases for new well drilling in early 2007 is consistent with this
group of investors' objectives. 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 www.hemienergy.com. or
http://www.stockinformationsystems.com/c/HMGP/index.html. "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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