Next Generation Energy Corp. Acquires Royalty Interest in Natural Gas and Oil Well in Denver, Colorado Area
-- Successful Operator, History of Success In Colorado Region --
LORTON, Va., June 21, 2011 /PRNewswire/ -- Next Generation Energy Corp. (OTCQB: NGMC) announced today that it has acquired a Royalty Interest in a natural gas and oil well located in the Denver Julesburg Basin, Adena Field, Morgan County, Colorado, producing approximately 2100 barrels of oil and 1290 Mcf of natural gas per month.
According to the U.S. Energy Information Administration, the Denver Julesburg Basin located north of Denver, Colorado, in 2007 produced 11 million barrels of oil and 170 billion cubic feet (BCF) of gas from more than 14,000 wells making it the 9th largest source of natural gas in the United States.
The property is operated by Klabzuba Oil & Gas, Inc. with Corporate offices in Fort Worth, Texas, a company with a long and rich history of successfully exploring for and developing oil and gas reserves throughout North America. The acquisition will add to NGMC's existing portfolio of producing natural gas, and oil properties.
"This latest acquisition keeps us on target to aggressively grow our base of royalty revenue streams," said Darryl Reed, NGMC CEO.
NEXT GENERATION ENERGY CORP.: The Company's core mission is to acquire high quality revenue streams by accumulating various royalty interests in existing, operating and proven domestic energy resources including natural gas and oil wells and coal producing properties. NGMC seeks energy producing properties that insure long term revenue streams with a thirty plus year asset life cycle. Only properties with well proven reserves in major energy producing geological formations are considered for acquisition. Additionally, the Company only considers properties operated and managed by companies with superior credentials
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
Darryl Reed
CEO
703-372-1282
[email protected]
Paul Knopick
E & E Communications
949.707.5365
[email protected]
SOURCE Next Generation Energy Corp.
Share this article