SPOKANE, Wash.--(BUSINESS WIRE)--Terry Dunne, Chairman and CEO of Amazing Energy Oil & Gas Co. (“AMAZ” on the OTCBB) is pleased to announce The Company has sold a record number of barrels of oil in the month of February, 2015. Mr. Dunne stated that, “We are very excited with the progress of our production as we continue to build out our drilling program with plans of expanding drilling operations into adjacent sections soon. The Company has signed a formal LOI with an aggressive oil and gas exploration and production company to joint venture on defined sections of the leasehold, and is working to execute a definitive agreement. We expect to spud a new well within the next sixty days, with or without an agreement.”
Amazing Energy Oil and Gas Co. is active in Pecos County Texas, which is in the Permian Basin. The Company’s leasehold continues to be very attractive with multiple pay zones. This is a conventional drilling project, in a proven produced area. The White & Baker and Walker fields being just north and east of the current drill sites have produced approximately 15 million barrels of oil. Mr. Dunne went on to say, “The Yates field just east of the approximate 70,000 acre leasehold has produced over a billion barrels of oil to date.”
Please also reference our website at amazingenergy.com.
This Press Release contains certain forward-looking statements and our future operating results could differ materially from those discussed herein. Certain statements contained in this Report, including, without limitation, statements containing the words “believes,” “anticipates,” “expects” and the like, constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to announce publicly the results of any revisions of the forward-looking statements contained or incorporated by reference herein to reflect future events or developments.
Amazing Energy Oil & Gas Co.
Terry Dunne, (509) 462-0315
Chairman and CEO