Flow Rates Exceed 1.5 Million Cubic Feet per Day
VANCOUVER, BC, Feb 22, 2008 (MARKET WIRE via COMTEX News Network) --
The Stallion Group (OTCBB: SLGR) is pleased to announce that testing has been completed at the Company's new gas well discovery in the Sacramento Valley, California. Stabilized flow rates exceeded a combined 1.5 million cubic feet per day of sweet high quality gas. The connection process to the nearby pipeline has begun. With this success an additional 8 wells are being permitted within the existing 3D seismic area.
"This well is the largest discovery well in Stallion's history," stated CEO Christopher Paton Gay. "We expect production to commence shortly and our payback on capital costs should occur within two to four months."
Under the farm out agreement, Stallion will pay 12.5% of the costs of the first discovery well to earn a 6.5% interest. Thereafter, Stallion will pay 6.5% of the costs of future wells to earn 6.5%.
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).
Forward-looking statement
Certain statements in this presentation constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of THE STALLION GROUP ("Stallion"), or developments in Stallion's business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include all disclosure regarding possible events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action. Forward-looking statements may also include any statement relating to future events, conditions or circumstances. Stallion cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Forward-looking statements relate to, among other things, changes in the resource market; the market focus of Stallion; Stallion's revenue mix and margin targets; Stallion's operations priorities; and Stallion's strategy for its products and solutions. The risks and uncertainties that may affect forward-looking statements include, among others, the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of Stallion's customers, demand for Stallion's products and other risks detailed from time to time in Stallion's filings with the Securities and Exchange Commission. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contact: THE STALLION GROUP Toll Free: 1-877-662-7901 Email Contact www.thestalliongroup.com
SOURCE: The Stallion Group
www2.marketwire.com/mw/emailprcntct?id=A496BA8C4E210406 www.thestalliongroup.com
Copyright 2008 Market Wire, All rights reserved.
VANCOUVER, BC, Feb 22, 2008 (MARKET WIRE via COMTEX News Network) --
The Stallion Group (OTCBB: SLGR) is pleased to announce that testing has been completed at the Company's new gas well discovery in the Sacramento Valley, California. Stabilized flow rates exceeded a combined 1.5 million cubic feet per day of sweet high quality gas. The connection process to the nearby pipeline has begun. With this success an additional 8 wells are being permitted within the existing 3D seismic area.
"This well is the largest discovery well in Stallion's history," stated CEO Christopher Paton Gay. "We expect production to commence shortly and our payback on capital costs should occur within two to four months."
Under the farm out agreement, Stallion will pay 12.5% of the costs of the first discovery well to earn a 6.5% interest. Thereafter, Stallion will pay 6.5% of the costs of future wells to earn 6.5%.
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).
Forward-looking statement
Certain statements in this presentation constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of THE STALLION GROUP ("Stallion"), or developments in Stallion's business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include all disclosure regarding possible events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action. Forward-looking statements may also include any statement relating to future events, conditions or circumstances. Stallion cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Forward-looking statements relate to, among other things, changes in the resource market; the market focus of Stallion; Stallion's revenue mix and margin targets; Stallion's operations priorities; and Stallion's strategy for its products and solutions. The risks and uncertainties that may affect forward-looking statements include, among others, the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of Stallion's customers, demand for Stallion's products and other risks detailed from time to time in Stallion's filings with the Securities and Exchange Commission. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contact: THE STALLION GROUP Toll Free: 1-877-662-7901 Email Contact www.thestalliongroup.com
SOURCE: The Stallion Group
www2.marketwire.com/mw/emailprcntct?id=A496BA8C4E210406 www.thestalliongroup.com
Copyright 2008 Market Wire, All rights reserved.
