Stallion Provides Operational Update
2007-09-26 13:33 ET - News Release
JACKSON, MS -- (MARKET WIRE) -- 09/26/07
The Stallion Group (OTCBB: SLGR) is pleased to announce that production rates are expected to increase substantially within the next 30 days. The company expects to have four wells tied into the gas line by the end of October 2007. As a result, the company will have considerable production on stream prior to the winter heating season. Historically, gas prices have been at a premium in the winter months in North America. The status of the four wells that will be on production within the next 30 days are set out as follows:
Well Name Total Depth Production Status Red Bug 3200 feet Producing 140,000 CF per day Red Bug #2 2640 feet Awaiting pipeline permit - pipeline (37-1) construction to commence immediately Faust #1 5380 feet Pipeline under construction - production expected to commence October 2007 Buffalo River F33 3480 feet Pipeline completed - production commencement October 2007
The summer / fall drilling program which commenced last month is ongoing. The drill program is expected to be completed prior to the start of the rainy season in early January 2008. Results from this program will be released on a timely basis.
The current drilling program is the 2nd and 3rd part of a larger 50-well drilling program that the company plans within the area of mutual interest (AMI). Over 7500 miles of 2D seismic and 250 square miles of 3D seismic have already been shot. Stallion holds between 33.5% and 40% gross interest in this AMI (area of mutual interest) in Mississippi and Louisiana.
About Stallion
The Stallion Group (OTCBB: SLGR) is an advanced oil and gas exploration and emerging early stage development company focused on its Mississippi and Louisiana exploration areas in the United States. The Company has developed a foundational strategy for success which includes; extensive analysis of all drilling opportunities. Once the analysis phases are complete the company can and does more very quickly to drill and establish reserve and production values. Stallion Management is tasked with the requirement to manage exploration and development risk by participating only with mature oil and gas Operators on our AMI lands (Area of Mutual Interest).
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THE STALLION GROUP
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www.thestalliongroup.com
