PRESS RELEASE
Date: September 26, 2008
Information: Chester F. English
Investor Relations
Tel: (601) 713-4011
Fax: (601) 713-4013
E-mail: cenglish@columbiapetroleum.com
Website: www.columbiapetroleum.com
Columbia Petroleum LLC Provides Update on its Fayette Field Activity
Columbia Petroleum announces the drilling of the Burt Pohlmann #1 well in the Fayette Field (Jefferson County, Mississippi). The well was drilled to a total depth of 10,506 feet and is presently undergoing completion. Log analysis and core data confirmed 84 feet of oil pay in the Lower Tuscaloosa Massive Sand, the primary drilling objective of the well.
The well is also sufficiently high on structure to allow several of the Upper Tuscaloosa sands to be productive for natural gas. Reserves in the Lower Tuscaloosa Massive are estimated at 500,000 barrels of oil.
Timothy Hurst, Chief Geologist for Columbia Petroleum LLC said, “Three more similar prospects have been identified at Fayette and are scheduled for drilling in the first quarter of 2009”.
Further results will be released upon completion of the well, now scheduled for the first week in November, 2008
Columbia Petroleum LLC is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. The Company’s oil and gas assets and activity are concentrated primarily in Oklahoma, Mississippi, Alabama and Louisiana.
This press release includes statements, which may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect", or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in mineral prices, the availability of capital for development of mineral projects and other projects, acceptance of the Companies' products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Companies' periodic report filings with the "Securities and Exchange Commission". By making these forward-looking statements, the companies undertake no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that the transactions discussed in this press release will be consummated.
Posted on
Fri, September 26, 2008
by Dave Scull