VANCOUVER, British Columbia, June 24, 2005 (PRIMEZONE) -- Emerson Oil and Gas, Inc., (Pink Sheets:EOGI) announces that in anticipation of drill rig being on site, the site preparation has been completed and the drill pad is ready on the Acadia project in Alberta.
Pressure analysis of producing gas wells shows that 16 BCF (billion cubic feet) of natural gas were originally in place in the Viking reservoir contiguous to the Project on the north side. Over 2 BCF of that gas has been produced from 6 gas wells leaving over 13 BCF in the reservoir. Gas is present in two wells immediately south of the leases.
The Company has a 51% working interest in the Acadia Project located in South-Eastern Alberta and also maintains a carried working interest of 12.5% before payout and a 18.75% working interest after payout in both the W.T. Davis and the Rinsland Estate No. 1 well in Bossier Parish, Louisiana.
Emerson Oil and Gas is in position to take advantage of the current demand and booming world market price of oil and gas. Emerson's primary operating philosophy is to utilize the most current technology available to develop low risk, high yield, underdeveloped oil and gas reserves. This approach will enable Emerson to capitalize upon previously discovered and producing properties with known reserves that had not been completely exploited due to market conditions.
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the 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. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Emerson Oil and Gas Inc. has little or no control.