Hadro Resources Inc. Announces California Buttonwillow Oil and Gas Lease Acquisition

Apr 05, 2001, 01:00 ET from Hadro Resources, Inc.

    RENO, Nev., April 5 /PRNewswire/ --
 New Oil and Gas Leases:  Hadro Resources, Inc. ("the Company") (OTC Bulletin
 Board: HDRS; Frankfurt: HD1) is pleased to announce that the Company has
 executed a memorandum of understanding dated March 26, 2001 to acquire a
 70% net revenue interest in approximately 224 acres of oil and gas leases in
 the Buttonwillow gas field located in the southern San Joaquin Valley of Kern
 County, California (the "Button Willow Leases") from Clearview Mineral
 Resources Corp., a British Columbia public company trading on the CDNX
 Exchange ("Clearview").  The Company is currently conducting due diligence on
 the Buttonwillow leases after which it expects to enter into a definitive
 agreement to complete the acquisition.  The leases are located in close
 proximity to the Berkley gas prospect (within 1.5 - 9 miles depending on
 lease) and are approximately 32 miles northwest of the City of Bakersfield.
 The leases also are host to a gas pipeline, and good infrastructure and road
 access.  Subject to final agreement, the Company expects to issue
 2,000,000 restricted common shares to obtain its interest in the Buttonwillow
 leases.
     Drilling Program Outline:  The Company expects to raise capital internally
 and via partnership drilling arrangements under negotiation to drill gas and
 oil wells on the Buttonwillow leases this summer and fall.  From seismic data
 processed, and from data from other wells drilled in the past by Chevron,
 Texaco, Lamberson, and Northwest Petroleum, the first well has been located
 and targeted for drilling to a depth of 6,650 feet to reach the San Joaquin
 Sands, as well as the 44X Gas Sands at the mid depth, and the Randolph Oil
 Sands at depth.  Subject to financing, the Company plans to raise capital and
 enter into joint drilling arrangements to drill six wells.
     The Buttonwillow Gas Field Structure:  The Buttonwillow gas field was
 discovered in 1927 and reached peak production in 1935 with 4.3 billion cubic
 feet of total production from the upper portion of the shallow San Joaquin
 Formation.  The Buttonwillow gas field is located near the depocenter of the
 San Joaquin Basin, a northwesterly-trending asymmetrical synclinorium which
 rises steeply to the west toward the Coast Range, but more gently to the east,
 forming a homocline.  The latter feature is disrupted by faults and
 northwesterly lines of folding.  The field is located on the Buttonwillow
 lowerbank trend, the fold line closest to the axis of the basin.  The
 Buttonwillow Anticline elongate double-plunging structure is about 5 miles
 long.  Faulting does not seem to influence the occurrence of hydrocarbons; the
 anticline and stratigraphy provide the traps.
     Prior production from the Buttonwillow gas field was limited to sands
 within the San Joaquin Formation, Pliocene age, between 2,300 and 3,400 feet.
 Several wells more currently drilled to deeper depths had excellent gas shows,
 even blowouts from the deeper San Joaquin sands and high gravity oil shows.
     Prior Projects Update:  The Company recently entered into a letter of
 intent to purchase a one hundred percent (100%) interest in Slovgold
 Deutschland GmbH, a Berlin based oil and gas exploration and development
 company ("Slovgold Germany"), with oil and gas interests located in the
 Ukraine and Russia.  HDRS has, after conducting due diligence on Slovgold
 Germany, decided not to pursue the acquisition further.
     The Company also recently entered into agreements to acquire majority net
 revenue interests in two separate oil and gas prospects located in eastern
 New Mexico, the Del Valle Prospect, and the Chaparral Prospect (the "New
 Mexico Prospects").  The Company has had difficulty in reaching agreements
 with the parties of the New Mexico Prospects, from verbal modifications
 obtained to agreements previously in place.  As HDRS has potential commercial
 disputes pending and under consideration relating to these interests, HDRS has
 decided not to enter into any development of the New Mexico Prospects, and
 revised formal agreements for the New Mexico Prospects are not in place with
 the parties of the New Mexico Prospects.
     About the Company:  Hadro Resources, Inc. is a natural resource
 exploration company engaged in the acquisition of oil and natural gas
 properties for exploration and development in the United States.  Subject to
 financing, the Company plans to undertake drilling for oil and gas in the U.S.
 The Company is currently assessing other potential oil and gas exploration
 acquisitions.
 
     SAFE HARBOR STATEMENT
     Forward-looking statements in this release are made pursuant to the "safe
 harbor" provisions of the Private Securities Litigation Reform Act of
 1995.  Investors are cautioned that such forward-looking statements involve
 risks and uncertainties, including, without limitation, commodity prices of
 precious metals and actual results differing materially from projections
 because of geological factors, operation factors, government regulations or
 factors relied upon from independent sources, may either negatively or
 positively impact exploration or mining operations.  Forward-looking
 statements involve known and unknown risks and uncertainties that may cause
 the Company's actual results in the future periods to differ materially from
 forecasted results.  The Company assumes no obligation to update the
 information in this release.
 
 

SOURCE Hadro Resources, Inc.
    RENO, Nev., April 5 /PRNewswire/ --
 New Oil and Gas Leases:  Hadro Resources, Inc. ("the Company") (OTC Bulletin
 Board: HDRS; Frankfurt: HD1) is pleased to announce that the Company has
 executed a memorandum of understanding dated March 26, 2001 to acquire a
 70% net revenue interest in approximately 224 acres of oil and gas leases in
 the Buttonwillow gas field located in the southern San Joaquin Valley of Kern
 County, California (the "Button Willow Leases") from Clearview Mineral
 Resources Corp., a British Columbia public company trading on the CDNX
 Exchange ("Clearview").  The Company is currently conducting due diligence on
 the Buttonwillow leases after which it expects to enter into a definitive
 agreement to complete the acquisition.  The leases are located in close
 proximity to the Berkley gas prospect (within 1.5 - 9 miles depending on
 lease) and are approximately 32 miles northwest of the City of Bakersfield.
 The leases also are host to a gas pipeline, and good infrastructure and road
 access.  Subject to final agreement, the Company expects to issue
 2,000,000 restricted common shares to obtain its interest in the Buttonwillow
 leases.
     Drilling Program Outline:  The Company expects to raise capital internally
 and via partnership drilling arrangements under negotiation to drill gas and
 oil wells on the Buttonwillow leases this summer and fall.  From seismic data
 processed, and from data from other wells drilled in the past by Chevron,
 Texaco, Lamberson, and Northwest Petroleum, the first well has been located
 and targeted for drilling to a depth of 6,650 feet to reach the San Joaquin
 Sands, as well as the 44X Gas Sands at the mid depth, and the Randolph Oil
 Sands at depth.  Subject to financing, the Company plans to raise capital and
 enter into joint drilling arrangements to drill six wells.
     The Buttonwillow Gas Field Structure:  The Buttonwillow gas field was
 discovered in 1927 and reached peak production in 1935 with 4.3 billion cubic
 feet of total production from the upper portion of the shallow San Joaquin
 Formation.  The Buttonwillow gas field is located near the depocenter of the
 San Joaquin Basin, a northwesterly-trending asymmetrical synclinorium which
 rises steeply to the west toward the Coast Range, but more gently to the east,
 forming a homocline.  The latter feature is disrupted by faults and
 northwesterly lines of folding.  The field is located on the Buttonwillow
 lowerbank trend, the fold line closest to the axis of the basin.  The
 Buttonwillow Anticline elongate double-plunging structure is about 5 miles
 long.  Faulting does not seem to influence the occurrence of hydrocarbons; the
 anticline and stratigraphy provide the traps.
     Prior production from the Buttonwillow gas field was limited to sands
 within the San Joaquin Formation, Pliocene age, between 2,300 and 3,400 feet.
 Several wells more currently drilled to deeper depths had excellent gas shows,
 even blowouts from the deeper San Joaquin sands and high gravity oil shows.
     Prior Projects Update:  The Company recently entered into a letter of
 intent to purchase a one hundred percent (100%) interest in Slovgold
 Deutschland GmbH, a Berlin based oil and gas exploration and development
 company ("Slovgold Germany"), with oil and gas interests located in the
 Ukraine and Russia.  HDRS has, after conducting due diligence on Slovgold
 Germany, decided not to pursue the acquisition further.
     The Company also recently entered into agreements to acquire majority net
 revenue interests in two separate oil and gas prospects located in eastern
 New Mexico, the Del Valle Prospect, and the Chaparral Prospect (the "New
 Mexico Prospects").  The Company has had difficulty in reaching agreements
 with the parties of the New Mexico Prospects, from verbal modifications
 obtained to agreements previously in place.  As HDRS has potential commercial
 disputes pending and under consideration relating to these interests, HDRS has
 decided not to enter into any development of the New Mexico Prospects, and
 revised formal agreements for the New Mexico Prospects are not in place with
 the parties of the New Mexico Prospects.
     About the Company:  Hadro Resources, Inc. is a natural resource
 exploration company engaged in the acquisition of oil and natural gas
 properties for exploration and development in the United States.  Subject to
 financing, the Company plans to undertake drilling for oil and gas in the U.S.
 The Company is currently assessing other potential oil and gas exploration
 acquisitions.
 
     SAFE HARBOR STATEMENT
     Forward-looking statements in this release are made pursuant to the "safe
 harbor" provisions of the Private Securities Litigation Reform Act of
 1995.  Investors are cautioned that such forward-looking statements involve
 risks and uncertainties, including, without limitation, commodity prices of
 precious metals and actual results differing materially from projections
 because of geological factors, operation factors, government regulations or
 factors relied upon from independent sources, may either negatively or
 positively impact exploration or mining operations.  Forward-looking
 statements involve known and unknown risks and uncertainties that may cause
 the Company's actual results in the future periods to differ materially from
 forecasted results.  The Company assumes no obligation to update the
 information in this release.
 
 SOURCE  Hadro Resources, Inc.