CHINA, Sept. 27, 2011 /PRNewswire/ - Breezer Ventures Inc. (OTCQB: BRZV) ("Breezer Ventures " or the "Company") recently drilled the Elma Jackson #6 to a total depth of 2737' on the Elma Jackson Lease located five miles north of Baird, Texas. The Company has commenced the process of rehabilitating this oil well. The well was originally drilled in the 1960's by Magnolia Petroleum which later became Mobil Oil. The oil well contains an existing cased well bore into the Moran Sand at 2720 feet. Oil production was originally reported in excess of 30 barrels per day in the Moran Formation. The well was abandoned almost 25 years ago and since that time there have been several significant discoveries in close proximity.
The well logs also indicate that the well has potential for future development in other proven oil formations. Initial tests on the Jackson #6 showed good oil and gas potential.
The Company has plans underway to install a larger down hole pump which would increase the volume of oil production. New production tests will be conducted upon completion of the installation of the larger down hole pump and other programmed work. This work is projected to be completed within 30 days.
Breezer Ventures has 10 existing and plugged wells that are currently in for rehabilitation and reactivation on The Jackson Lease which is comprised of 870 acres and is situated on the western side of the Bend Arch of the Fort Worth Basin.
This current report contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, continuing production from the "Jackson Oil and Gas Leases", or the generation of positive cash flow as a result, updating of the corporate website or the availability of an independent geological report outlining the leases, their production, and their potential. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with oil and gas exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of oil and gas prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE Breezer Ventures