Slideshow image
   
becpl
Mfg. of Water well Drilling Rigs, Dth Hammers and Button Bits...
 
phe
Water Well Drilling Rigs, Dth Drilling Rigs, Rotary Drilling Rigs...
 
phe
Blast hole Drills, Water Well Drilling Rig, Mud Pumps, Vertical Turbine Pumps...
klrsai deepagetechjcr
 

Endeavor Power's First Sale of Oil Imminent, Eighth Well on Patrick Henry Now Operational

NOWATA COUNTY, OKLAHOMA -- (Marketwire) -- 04/22/09 -- Endeavor Power Corp. (OTCBB: EDVP) is pleased to announce that it expects to complete the sale and delivery of its first full load of oil from the Patrick Henry Lease by the end of business on Wednesday April 22, 2009.

This first load has been produced from the first 7 wells already in operation, and we anticipate another full load of oil to ship within 10 days. Federated has also brought an 8th well on-line within the last few days.

Though we previously expected to have 13 wells in operation, as previously announced, there is now expected to be a total of 14 wells in operation. Once all 14 wells on this lease are operational, deliveries of full loads of oil are expected to occur at least on a weekly basis. Our joint venture partner, Federated, has advised that each full load of oil represents 100 barrels.

"The results so far have been tremendous and we are excited about the progress we continue to make. We look forward to having all wells operational so we can move forward with additional testing to possibly drill more wells," said Rick Wilkins of Federated.

For additional information, please visit www.endeavorpowercorp.com.

About the Patrick Henry Lease

The Patrick Henry Lease is located in the North Eastern part of Oklahoma.

 

  Drilling Today Contact

Development and production of the Patrick Henry will consist of a combination of primary and secondary recovery. Secondary recovery efforts will include water flood and the use of an NCO2 machine to re-pressure existing formations and enhance and increase production.

The Patrick Henry currently includes thirteen (13) wells and one (1) saltwater injection well re-work project scheduled to be in full production by late spring to early summer. The Patrick Henry is located in Nowata County, Oklahoma and is surrounded by production that has been in existence since the early 1900's.

We plan to re-enter the 13 wells, acid frac the Bartlesville oil pay formation, equip the wells and put them into production. By performing an acid frac on each of the wells we would expect substantial production from each well for 6 months or more and then settled production for a number of years thereafter.

The Bartlesville is divided into 2 distinct members, referred to as Upper and Lower Bartlesville. Upper Bartlesville sand thickness is 9.6 net feet and covers the complete area. Lower Bartlesville averages 24.7 net feet and covers the same area. A shale zone at up to 15 feet thickness separates the two zones. Structure of the shale does not appear significant to the production. Sand pinches to the East and dips gently to the West - North West at the rate of some 60 feet per mile.

These wells are relatively shallow in nature and are inexpensive by today's standards to develop, maintain, and operate.

About Endeavor Power Corp.

Endeavor Power Corp. is an independent, energy company engaged in the acquisition, exploitation and development of oil and natural gas properties in the United States. Endeavor's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. Endeavor also aims to define larger projects that can be developed with Joint Venture partners.

Legal Notice Regarding Forward-Looking Statements

Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.

Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in filings on Edgar of other junior oil and gas exploration companies with the US Securities and Exchange Commission.

 
Drilling Today Contact