Kingslake Energy Inc. Sets Ten More Locations
2/14/2008
DALLAS, Feb 14, 2008 (BUSINESS WIRE) --
Kingslake Energy Inc. (OTC: KGLJ) announces that it has permitted four locations and picked six others for a total of 10 natural gas well locations on its 20,000 acres of oil and gas leases located in the highly active Devonian Shale Area, in Morgan County, Kentucky.
The Company, ahead of schedule, has drilled eight natural gas wells. Four wells have just been placed in production and four wells are in completion phase.
Kinglake's president James Pagnum commented, "Our extensive geology study shows a uniform deposition of Devonian Shale across the lease holdings. It is not uncommon for these highly stable wells to produce at a steady rate for decades. We are confident that in light of efficient recovery technology and soaring energy prices, our progress in the Devonian Shale represents a tremendous investment opportunity for our company and shareholders."
ABOUT KINGSLAKE ENERGY INC.
Kingslake Energy, Inc. Plans to become a significant presence in the multi-billion dollar US natural gas exploration and production market. The Company explores and drills in the prolific Appalachian Basin, an area encompassing Kentucky, Tennessee, West Virginia, and Virginia.
This document may contain forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates," and variations of these words as well as similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
SOURCE: Kingslake Energy Inc.
Kingslake Energy, Inc. James R. Pagnum, 210-841-5759 Fax: 210-820-2609 www.kingslakeenergyinc.com info@kingslakeenergyinc.com or Investor: TheOpeningBell Newsletter John Gernannt, 478-254-4138 EquityResearchIR.com theopeningbell@cox.net
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