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8-K - FORM 8-K - SUN RIVER ENERGY, INC | d78141e8vk.htm |
Exhibit 99.1
Sun River Energy, Inc. Announces Commencement of Drilling Operations in East Texas
Dallas, TX (PRNewswire-FirstCall) December 1, 2010 Sun River Energy, Inc.
(OTC:BB:SNRV). Sun River Energy, Inc. (the Company or Sun River) announces that it commenced
drilling activities on November 30, 2010, in compliance with the terms of the Devon Energy
Production Company, L.P. Farmout Agreement, which Sun River announced on October 27, 2010.
Sun River Operating, Inc. permitted the Neal Heirs #1 (API # 42-365-37706) on November 18, 2010
with the Texas Railroad Commission in District 6, Panola County, Texas. The well is permitted to
12,000 feet in the Carthage Field to test the Haynesville Shale. It is anticipated to encounter
commercially productive zones in the Travis Peak and Cotton Valley geological formations.
Donal R. Schmidt, Jr., the Companys CEO and President, stated, Sun Rivers Farmout with Devon
called for drilling to commence no later than November 30th. When you factor in the
Thanksgiving Holiday, our team worked hard to timely spud this first well. This is a clear example
of the quality and experience of our employees and their ability to work under time sensitive
deadlines. It is always great to see a project come together when you have a short fuse. When we
executed the Farmout, I was aware we would have to hustle to meet the initial deadline, but the
confidence I placed in our professionals turned out to be well founded.
About Sun River Energy, Inc.:
Sun River Energy, Inc. is a Dallas-based, development-stage oil and gas exploration and production
company. For further information on the Company, please visit our website www.snrv.com.
Media Contact:
Gilbert Steedley
1-800-669-6511
Gilbert Steedley
1-800-669-6511
Notice Regarding Forward-Looking Statements
This news release contains forward-looking statements (statements which are not historical facts)
made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on current expectations rather than historical facts and
they are indicated by words or phrases such as anticipate, could, may, might, potential,
predict, should, estimate, expect, project, believe, plan, envision, continue,
intend, target, contemplate, or will and similar words or phrases or comparable
terminology. We have based such forward-looking statements on our current expectations,
assumptions, estimates and projections. While we believe these expectations, assumptions, estimates
and projections are reasonable, such forward-looking statements are only predictions and involve
known and unknown risks and uncertainties, and other factors that may cause actual results,
performance or achievements to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements, many of which are beyond our
control. These factors include, but are not limited to, the time to consummate any proposed
acquisitions; the risk that one or more conditions to closing a proposed transaction may not be
satisfied; the timing and extent of changes in market conditions and prices for natural gas and
oil; the timing and extent of the Companys success in discovering, developing, producing and
estimating reserves; the economic viability of, and the Companys success in drilling, the
Companys ability to fund the acquisition of oil and gas assets and the Companys planned capital
investments; the Companys future property acquisition or divestiture activities; increased
competition; and any other factors listed in the reports the Company has filed and may file with
the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on
these forward-looking statements, which reflect the Companys expectations only as of the date they
were
made. The Company undertakes no obligation to update or revise any forward-looking statements to
reflect new information or the occurrence of unanticipated events or otherwise.