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Post by ToddCT on Mar 14, 2005 13:51:26 GMT -5
Pipeline Tie-In Begins at North Franklin
LOS ANGELES, CA, Mar. 14, 2005 (MARKET WIRE via COMTEX) -- Silver Star Energy, Inc. (OTC BB: SVSE) is pleased to report that the operator of the North Franklin Project has informed the Company that the tie-in operations of the "Archer-Whitney #1" well have commenced. The crew is onsite and has begun the tie-in of the well. The operation involves the boring of approximately 20 feet underground and connecting the last 177-foot section of the pipeline to the gas well. The operations are estimated to take several days following which the well will be put online and gas production can commence.
Silver Star has previously announced that a contract is in place with a natural gas purchaser. When final connection and tie-in is completed, the well will be evaluated as to I.P.R.s (Initial Production Rates). Silver Star is optimistic that gas flow rates will be similar to area analog gas fields and that 5,000 mcf/day is a realistic target.
The March 11th gas price based on PG&E-Citygate pricing is $6.46/mcf.
ABOUT SILVER STAR ENERGY, INC.
The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high quality, low risk prospects provided via key strategic alliance partnerships.
Safe harbor for Forward-Looking Statements:
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Post by ToddCT on Mar 14, 2005 13:52:26 GMT -5
for any of you who doubt the revenues of this comapany do the math.
5000 mbtu at over $6.50 each..........and thats per day.
Over $10m in revenues from one well, not bad.
T
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