
Force Fuels Schedules an Additional 5 Oil Wells in Kansas Totaling 25, the Goal is 50 Total for 2011
COSTA MESA, Calif., June 7, 2011 /PRNewswire/ -- Force Fuels, Inc. (OTC: FOFU) announces that they have scheduled another 5 existing oil wells that have been shut in for several years on properties located in Montgomery County, Kansas. Investors have funded Force Fuels to meet their goals. Production numbers are estimated from 1 barrel per day (BPD) to 6 BPD.
"I am amazed at the response we are having from our Investor base as well as the success with the shut in wells. The next process once we meet the 50 well goal, is to begin a water stimulation program on certain groups of wells existing. As we said in our prior press releases, we anticipate our current results doubling even tripling production on those wells. Force Fuels goals are to open as many as 50 wells during 2011," said Thomas Hemingway, President and CEO.
With the cost of a barrel of oil stabilizing around the $100 price each well produces from $3000 per month on the lower producing wells to $18,000 per month on the stimulated wells. These are wells that are currently drilled and placed in a state of non-production. Force Fuels has entered into a new and exciting market by reopening these wells and defining a market for the small to medium sized oil companies. Thousands of Pump Jacks exist in shallow wells throughout Kansas and Oklahoma. These wells have joined a way to supply oil to the United States, utilizing existing infrastructures.
The leases are in Chautauqua and Montgomery County on the southern end of Kansas, a well-known oil and gas producing area where several prolific reservoirs are present. Comprising over 2,600 acres, the leases are fully equipped with 54 wells and all the necessary equipment to commence production. In addition Force Fuels is aimed at increasing oil production on the Joint Venture signed in March 2011 on 1200 acres of Pioneer Oil's Oklahoma properties.
In addition, the Company is looking for existing shut in oil wells that land owners want to have opened. If you are a current land owner or own a mineral rights lease and are interested in our services, please call 949-783-6723 and ask for Tom.
About Force Fuels, Inc.:
Force Fuels, Inc. operates in the energy field. Its strategy envisions the inclusion of projects involving oil, natural gas as well as alternative energy production using solar and wind power. In the oil and gas field the company is focusing on the purchase of marginally producing shallow oil wells which can be optimized with existing technologies; the purchase of leases with potential for additional drilling in proven producing areas; and the acquisition of in-house know-how to further optimize production through stimulation, refurbishing and site optimization.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, adverse economic conditions, intense competition, lack of meaningful research results, inadequate capital, termination of contacts or agreements, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products or programs and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and exchange Commission.
By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
PR Financial Marketing LLC
James Blackman
Tel: 713-256-0369
[email protected]
SOURCE Force Fuels, Inc.
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