News Release
For Immediate Release:
Date October 7, 2004
Petrol Oil & Gas Commences CBM Drilling Program
Company to Hold Annual Shareholder's Meeting on October 27th
/24-7PressRelease.com/ -- LAS VEGAS, Oct. 7, 2004 - Petrol Oil and Gas Inc. (OTCBB: POIG) announces today that it has commenced activities, employing the proceeds from its recently completed $6.6 million private placement to begin a 25-well drilling program. The initial target for the program will be the Coal Creek Project in Coffey County, Kansas. The company expects to report interim results from the drilling program as they become available.
The program will target the coal seams in southeastern Kansas and southwestern Missouri and could support up to 1,700 producing gas wells. The shallow depths associated with the multiple coal seams results in low drilling and production costs, and a higher probability of production. The flat terrain of Eastern Kansas, which allows for ease of access for drilling rigs and associated production equipment, should enable the Company to progress quickly with the drilling program.
The Company also announced that it will hold its Annual Shareholder's Meeting on Wednesday, October 27 at 10:00 am at the Alexis Park Resort, located at 375 E. Harmon Avenue in Las Vegas, Nevada. At the time, Company executives are expected to further update investors on the activities from the drilling program.
Forward-Looking Statement: The statements in this press release regarding any implied or perceived benefits from the financing or sale of Petrol Units, plans to drill additional CBM gas wells, the acquisition of additional oil or gas leases, maintaining mineral lease rights, and any other effects resulting from any of the above are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, the continued production of oil at historical rates, costs of operations, delays, and any other difficulties related to producing these minerals such as oil or gas, continued maintenance of the oil field and properties, price of oil or gas, marketing and sales of produced minerals, risks and effects of legal and administrative proceedings and governmental regulation, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Petrol Oil and Gas, Inc is a featured Company on http://www.NaturalGasStocks.com
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Contact:
Investor Information:
Petrol Oil and Gas Inc.
702-454-7318
http://www.petroloilandgas.com
or
CEOcast, Inc. for Petrol Oil and Gas
Ed Lewis, 212-732-4300x225
Investor and Media Relations
ECON Corporate Services
NaturalGasStocks.com
1.866.354.5197
Dawn Van Zant
dvanzant@investorideas.com
or
Trevor Ruehs
truehs@investorideas.com
Source: Petrol Oil and Gas Inc.
Forward-Looking Statement: The statements in this press release regarding any implied or perceived benefits from the financing or sale of Petrol Units, plans to drill additional CBM gas wells, the acquisition of additional oil or gas leases, maintaining mineral lease rights, and any other effects resulting from any of the above are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, the continued production of oil at historical rates, costs of operations, delays, and any other difficulties related to producing these minerals such as oil or gas, continued maintenance of the oil field and properties, price of oil or gas, marketing and sales of produced minerals, risks and effects of legal and administrative proceedings and governmental regulation, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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