Savoy Energy Corp. Installs Technology Upgrade for Rozella Kifer
November 02 2009 - 7:00AM
Marketwired
Savoy Energy Corporation (OTCBB: SNVP) announced today that the
company has successfully installed the Jack Shaft Reducer on its
Rozella Kifer Well. The Jack Shaft Reducer is expected to both
increase efficiency and decrease maintenance costs which will in
turn extend the life of the well's production.
The Rozella Kifer Well sits on 193 acres of land in Gonzales
County, Texas. The oil reserves for the well are estimated at
19,730 Mbbl while the gas reserves are an estimated 3,090 MMcf.
"With the Rozella Kifer already operating on electricity it is
the perfect well to install and monitor the results of the Jack
Shaft Reducer. I am pleased to see that the speed of the electric
motor and the stress on the rods have both been reduced. This will
have a direct effect on the operating costs for this well. We
learned much during this installation that will enhance future
installations of Jack Shaft Reducers. In keeping with our focus of
protecting the environment through less emissions and keeping oil
off the ground and in the tanks I look forward to continuing this
phase of upgrades to be installed on our other existing and future
wells," stated Art Bertagnolli, CEO of Savoy Energy
Corporation.
About Savoy Energy Corporation
Savoy Energy Corporation (OTCBB: SNVP) is an independent oil and
gas company building a diversified portfolio of valuable oil and
gas assets in the United States. The company is focused on
identifying abandoned oil and gas assets, which are then brought
online through recompletion and work-over activities, a meticulous
process of evaluation, application of modern well technology, and
stringent management controls. This process allows the company to
increase its asset base and cash flow, while significantly reducing
the cost of initial drilling, and takes away the risk of
traditional exploration projects. Savoy Energy's financial
structure allows it to minimize the high overhead of traditional
E&P companies. (www.savoyenergycorp.com)
Forward-Looking Statement: The statements in the press release
that relate to the Company's expectations with regard to the future
impact on the Company's results from acquisitions or actions in
development are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. The
statements in this document may also contain "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
When used in this press release, the words "anticipate," "believe,"
"estimate," "may," "intend," "expect" and similar expressions
identify such forward-looking statements. Forward-looking
statements are subject to risks, uncertainties, and other factors
that could cause actual results to differ materially from those
contained in such statements. Such risks, uncertainties, and
factors include, but are not limited to, future capital needs,
changes, and delays in product development plans and schedules, or
market acceptance.
Contact: Corporate office Art Bertagnolli 1-713-243-8788 for
Savoy Energy Corporation Website:
http://www.savoyenergycorp.com
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