WWNG WW Energy Inc (CE)

WW Energy Inc. (Pink Sheets:WWNG) -- a holding company that was created to acquire oil and gas service companies as well as oil and gas-related assets -- announced that the Company has signed a Letter of Intent for the reworking of 3 wells located in Borden County and Snyder, Texas. The Borden County well was drilled to a depth of 4525 � 4600 feet with an initial rate of 65 bbls per day. WW Energy also has a well located in Snyder, Texas that the Company expects to drill on. The LOI also includes an additional well that has been permitted for disposal. The Texas located wells were shut in, in the early 1990s. WW Energy intends to begin reworking wells 1 and 2 in the Snyder located area. The Snyder properties represented one of the largest oil booms dating back to the 1940s and 1950s. Currently, the price of crude oil is approximately $90 per barrel. Management will report on the progress of the LOI as information becomes available. WW Energy Inc. is a holding company that was created to acquire oil and gas service companies as well as oil and gas-related assets. WW Trucking Inc., formed in 1999, is a leading oil and gas services company for the oil field services industry in Utah, Colorado, New Mexico and Arizona (The Four Corners Area). Their existing business operations are in transporting production water for oil drilling/exploration and waste water for disposal. They also provide services for heavy hauling of drilling and well equipment needed in the oil and gas production and exploration industry. Forward-looking statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.