miller spuds et al #1
(this is the JV with Norwest/GTE)
Miller Petroleum, Inc. Announces the Drilling of the Eureka Structure
MILLER PETROLEUM, INC. (OTC Bulletin Board: MILL) begins the drilling of the Eula Butler Et Al #1, a deep wildcat in Roane County, Tennessee.
Acting on its extensive experience in the Appalachian Basin, Miller began drilling April 21st, 2005, to exploit the focal point of this wildcat prospect whose potential has been confirmed by 4 miles of recently shot seismic. Miller has organized and will drill this prospect in a joint venture with a large Appalachian based independent oil and gas company. This first well is projected to 6,500 feet.
"Knowledgeable geologists have described this prospect as perhaps the largest unexplored structure in the Appalachian region and believe it could be a major hydrocarbon reservoir," says Deloy Miller, Chief Executive Officer.
A gas pipeline is within 1000' of the well to generate immediate cash flow from potential gas sales.
Miller Petroleum, Inc. is a publicly traded, fully integrated, gas and oil exploration and production company with headquarters in Huntsville, Tennessee. The company is rapidly increasing natural gas reserves in the Appalachian Basin. Miller's gas market is readily accessible through the company's infrastructure of gas lines for immediate sales.
Forward-looking statements made in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward looking statements involve risk and uncertainties which may cause actual results to differ from anticipated results, including risks associated with the timing and development of the company's reserves and projects as well as risks of downturns in economic conditions generally, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
NWE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
