Attached files
file | filename |
---|---|
8-K - FORM 8-K - SUN RIVER ENERGY, INC | d78774e8vk.htm |
Exhibit 99.1
Sun River Energy, Inc. Announces Total Depth Reached on the Neal Heirs #1
DALLAS, Jan. 7, 2011 /PRNewswire/ Sun River Energy, Inc. (OTC Bulletin Board: SNRV). Sun River
Energy, Inc.s (the Company or Sun River) wholly owned operating company, Sun River Operating,
Inc., set pipe on the Neal Heirs #1 well in southwestern Panola County, Texas at a total depth of
11,073 feet. Logging was completed on December 25, 2010. All of the objective formations were
penetrated and no unusual drilling conditions were encountered during drilling. Based on
preliminary analysis, the well contains an estimated 700 feet of total pay in the Pettit, Travis
Peak, Cotton Valley Sands, Bossier Shale and Haynesville Shale geological formations.
It is anticipated that the well will be hooked up and producing after a 30-60 day completion
program.
This well is the first well drilled under a farm-in agreement with Devon Energy Production Company,
L.P. (Devon, see 10/27/2010 Press Release.)
According to Donal R. Schmidt, Jr., the Companys CEO and President, It was important that Sun
Rivers first well under new management be a commercial success. I am happy to announce that this
appears to be the case. Based on downhole logs and shows, the well looks better than we initially
anticipated in both the Cotton Valley and Travis Peak formations. Additionally, we found the
Pettit formation which is a significant and unanticipated bonus. The Bossier/Haynesville shale
formations were consistent with those found in other wells in the area. Overall, Sun Rivers
operating team did an outstanding job in getting this well drilled under an extremely tight time
schedule. We are looking forward to drilling additional Test Wells under the terms of our
agreement with Devon.
About Sun River Energy, Inc.:
Sun River Energy, Inc. is a development stage Dallas-based oil and gas exploration and production company. For further information on the Company, please visit our website www.SNRV.com.
Sun River Energy, Inc. is a development stage Dallas-based oil and gas exploration and production company. For further information on the Company, please visit our website www.SNRV.com.
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 the proposed
acquisition; the risk that one or more conditions to closing the 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.
CONTACT: Gilbert Steedley, 1-800-669-6511, for Sun River Energy, Inc.