Energy Revenue America Announces New Discoveries on Exisitng Leases
May 19 2014 - 8:00AM
Marketwired
Energy Revenue America Announces New Discoveries on Exisitng Leases
DALLAS, TX--(Marketwired - May 19, 2014) - Energy Revenue
America, Inc. (PINKSHEETS: ERAO), a firm focused on the
acquisition, development and exploration of Coal Bed Methane (CBM)
natural gas, is pleased to provide an update on new developments on
the Company's 3,100 acres in Nowata County, Oklahoma.
Energy Revenue America, Inc. (ERA) announced last week that
funding had been secured for $1.2 million and will be used to drill
the first 10 wells of the 300 wells ERA expects to drill in the
next five years.
Today, Energy Revenue America (ERA) is pleased to announce the
discovery of two new natural gas zones and the addition on new
lease area to support their strategic plan to drill 300 new well
over the next five years.
In the north section of the ERA pipeline in Nowata County,
Oklahoma, a new untapped gas zone has been discovered that will
yield two times the natural gas as existing zones currently in
production. Initially 4 locations have been selected and drilling
will start as soon as drilling permits are issued.
In the western section of the ERA pipeline an oil sand zone has
been discovered less than 1,000 feet down and will produce an
estimated 15 barrels of oil a day. "To the 'big boys' that spend a
million dollars to drill a well, this is small, but this oil sand
zone will give ERA about $45,000 a month per well for a drilling
cost investment of $125,000 a well," says Charley Havens, ERA
Chairman and COO.
Energy Revenue America Inc. creates shareholder value by:
- Owning their own pipeline so delivery costs are low
- Multiple zones under each well to ensure strong production year
after year
- Reserves in excess of $80M at the end of year 2 and $150M at
the end of year 3
About Energy Revenue America, Inc. Energy Revenue America, Inc.
is focused on the acquisition, development and exploration of
unconventional natural gas projects, primarily Coal Bed Methane
(CBM) and seeks to acquire and develop properties with significant
undeveloped potential and apply technical and operating expertise
to maximize the value of these resources.
FORWARD-LOOKING STATEMENT This release includes forward-looking
statements intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements generally can be identified
by phrases such as INCL or its management "believes," "expects,"
"anticipates," "foresees," "forecasts," "estimates" or other words
or phrases of similar import. Similarly, statements herein that
describe the Company's business strategy, outlook, objectives,
plans, intentions or goals also are forward-looking statements. All
such forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those in forward-looking statements.
CONTACT: Energy Revenue America, Inc. Email Contact Website
www.energy-revenue.com
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