Cheetah Oil & Gas Ltd: Weather Delays Spud Date, Director Appointed
October 22 2009 - 12:34PM
Business Wire
Cheetah Oil & Gas Ltd. (OTC BB: COHG) (the "Company"
or "Cheetah")
Drilling of the PPF-12-4 Well has been delayed due to
unseasonable heavy rains of over 11 inches in the past 30 days. The
Company intends to commence drilling at such time as the rig can be
moved safely onto the lease. The Company intends to update
shareholders at such time.
Cheetah is pleased to announce the appointment of Mr. Don
Findlay to its Board of Directors.
Mr. Findlay is a seasoned Geologist with 20 years experience and
has an extensive exploration and development background in Western
Canada. Mr. Findlay is comfortable managing multi-disciplinary
teams and working as a self directed Geologist to create and
maximize value.
For the past five years Mr. Findlay has been retained in roles
as a VP of Exploration or Exploration Manager and is currently the
Exploration Manager of a public company that is currently producing
in excess of 9,000 BOE/D.
About Cheetah Oil & Gas Ltd.
Cheetah Oil & Gas Ltd. is an oil & gas company active
primarily in Mississippi, where it holds between 6.25% and 50%
gross working interests in various gas and oil projects. Cheetah
routinely evaluates additional resource projects and corporate
opportunities.
FORWARD-LOOKING
STATEMENTS
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Statements which are not historical facts are forward-looking
statements. The Company makes forward-looking public statements
concerning its expected future financial position, results of
operations, cash flows, financing plans, business strategy,
products and services, competitive positions, growth opportunities,
plans and objectives of management for future operations, including
statements that include words such as "anticipate," "if,"
"believe," "plan," "estimate," "expect," "intend," "may," "could,"
"should," "will," and other similar expressions are forward-looking
statements. Such forward-looking statements include but are not
limited to, (1) the Company’s intension to commence drilling at
such time as the rig can be moved safely onto the lease and the
Company’s intension to update shareholders at such time. Such
forward-looking statements are estimates reflecting the Company's
best judgment based upon current information and involve a number
of risks and uncertainties, and there can be no assurance that
other factors will not affect the accuracy of such forward-looking
statements. It is impossible to identify all such factors but they
include and are not limited to the existence of underground
deposits of commercial quantities of oil and gas; cessation or
delays in exploration because of mechanical, weather, operating,
financial or other problems; capital expenditures that are higher
than anticipated; or exploration opportunities being fewer than
currently anticipated. There can be no assurance that expected oil
and gas production will actually materialize; and thus no assurance
that expected revenue will actually occur. There is no assurance
the Company will have sufficient funds to drill additional wells,
or to complete acquisitions or other business transactions. Such
forward looking statements also include estimated cash flows,
revenue and current and/or future rates of production of oil and
natural gas, which can and will fluctuate for a variety of reasons;
oil and gas reserve quantities produced by third parties; and
intentions to participate in future exploration drilling. Adverse
weather conditions can delay operations, impact production, and
cause reductions in revenue. The Company may not have sufficient
expertise to thoroughly exploit its oil and gas properties. The
Company may not have sufficient funding to thoroughly explore,
drill or develop its properties. Access to capital, or lack
thereof, is a major risk. Current oil and gas production rates may
not be sustainable and targeted production rates may not occur.
Factors which could cause actual results to differ materially from
those estimated by the Company include, but are not limited to,
government regulation, managing and maintaining growth, the effect
of adverse publicity, litigation, competition and other factors
which may be identified from time to time in the Company's public
announcements and filings.
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