Breezer Ventures discovers new potental oil and gas reserves
CHINA, Oct. 3, 2011 /PRNewswire/ - BREEZER VENTURES INC. (OTCBB:BRZV) ("Breezer Ventures Inc." or the "Company"), is pleased to announce that Rick Taylor, technical advisor to the Company, has recently studied some of the drilling logs and data pertaining to the Jackson Lease oil and gas wells. Mr. Taylor concluded that the Jackson Lease might have some very productive oil and gas reserves located at the Winchell Lime formation, which would be new oil and gas reserve discoveries for the Company.
Also, highly noted West Texas geologist Bill Waggoner, a business associate of Rick Taylor, recently met with a Log Analyst from the internationally acclaimed Schlumberger Company to jointly study the potential of the oil and gas reserves of the Jackson Lease. Schlumberger has been in business for 80 years and is extremely respected in the world as leading experts in supplying technology and management information solutions to the oil and gas industry. Based on the information obtained from Schlumberger, Mr. Waggoner concluded that the Winchell Lime formation of the Jackson Lease is potentially to be productive for oil and gas.
Currently, the Company has options on ten wells located on the Jackson Lease. Well #6, recently re-opened by the Company, has the Winchell formation present and this zone could potentially be another prolific producing zone for the well. It would be a new field discovery for the Company, in addition to the other producing zones that are historically associated with the ten wells optioned by the Company.
The Winchell formation is about 300 feet thick and would hold a great deal of oil and gas reserves, many times the potential in the Moran Sand currently being developed in Well #6. The Company is preparing to test the Winchell formation in the Jackson Lease. If productive, the Company's oil and gas rehabilitation program will re-focus on the Winchell formation.
"The Company is extremely excited over the strong prospect of a new oil and gas find on our Jackson Lease property", states Tang Xu.
Forward-Looking Statements
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.
ON BEHALF OF BREEZER VENTURES INC.
Tang Xu, Director
SOURCE Breezer Ventures
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