Daybreak Oil & Gas, Inc. Continues Production Success in Kentucky With Initial Production Rate on the Dwight Dillon H-6 Oil W...
26 Março 2014 - 1:03PM
Marketwired
Daybreak Oil and Gas, Inc. Continues Production Success in Kentucky
With Initial Production Rate on the Dwight Dillon H-6 Oil Well
SPOKANE, WA--(Marketwired - Mar 26, 2014) - Daybreak Oil
and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"), a
Washington corporation, is pleased to announce that the Dwight
Dillon H-6 well in the Twin Bottoms Field in Lawrence County,
Kentucky was put on production on March 20, 2014. The well is
producing approximately 200 barrels of oil per day and 75 mcf per
day of natural gas. The Company and its partner App Energy,
LLC. have sold over 800 barrels of oil from the well since it was
put on production.
James F. Westmoreland, President and Chief Executive Officer,
commented, "We continue to be pleased with the results of our wells
in the Twin Bottoms Field. The results to date continue to
exceed our initial expectations for this project and we expect that
trend to continue as we move forward with our aggressive
development plans for our 2014 - 2015 fiscal year. We are
currently drilling the first of 20 planned wells in the Twin
Bottoms Field and are confident that this project, along with our
development plans in California will continue to deliver excellent
returns for our shareholders."
Daybreak Oil and Gas, Inc. is an independent oil and gas company
currently engaged in the exploration, development and production of
oil and gas in California and Kentucky. The Company is
headquartered in Spokane, Washington with an operations office
in Friendswood, Texas. Daybreak owns a 3-D seismic survey
that encompasses 20,000 acres over 32 square miles with
approximately 13,000 acres under lease in the San Joaquin Valley of
California. The Company operates production from 20 wells in
our East Slopes project area in Kern County,
California. Daybreak also owns a 25% working interest in
approximately 6,400 acres under lease in the Appalachian Basin in
Lawrence County, Kentucky; where, we currently are participating in
an on-going oil development program in the Twin Bottoms field.
More information about Daybreak Oil and Gas, Inc. can be found
at www.daybreakoilandgas.com.
Certain statements contained in this press release constitute
"forward-looking statements" as defined by the Securities and
Exchange Commission. Such statements can be identified by the use
of forward-looking terminology such as "believe," "expect," "may,"
"should," "up to," approximately," "likely," or "anticipates" or
the negative thereof. These forward-looking statements are based on
our current expectations, assumptions, estimates and projections
for the future of our business and our industry and are not
statements of historical fact. Such forward-looking statements
include, but are not limited to, statements about our expectations
regarding our financing, our future operating results, our future
capital expenditures, our expansion and growth of operations and
our future investments in and acquisitions of oil and natural gas
properties. We have based these forward-looking statements on
assumptions and analyses made in light of our experience and our
perception of historical trends, current conditions, and expected
future developments. However, you should be aware that these
forward-looking statements are only our predictions and we cannot
guarantee any such outcomes. Future events and actual results may
differ materially from the results set forth in or implied in the
forward-looking statements. The following factors, among others,
could cause actual results to differ from those set forth in the
forward-looking statements: general economic and business
conditions; exposure to market risks in our financial instruments;
fluctuations in worldwide prices and demand for oil and natural
gas; fluctuations in the levels of our oil and natural gas
exploration and development activities; our ability to find,
acquire and develop oil and gas properties, including the ability
to develop the East Slopes Project prospects; risks associated with
oil and natural gas exploration and development activities;
competition for raw materials and customers in the oil and natural
gas industry; technological changes and developments in the oil and
natural gas industry; legislative and regulatory uncertainties,
including proposed changes to federal tax law and climate change
legislation, and potential environmental liabilities; our ability
to continue as a going concern; and our ability to secure
additional capital to fund operations. Additional factors that may
affect future results are contained in our filings with the
Securities and Exchange Commission ("SEC") and are available at the
SEC's web site http://www.sec.gov. Daybreak Oil and Gas, Inc.
disclaims any obligation to update and revise statements contained
in this press release based on new information or otherwise.
Contact: Ed Capko Telephone: 815-942-2581 Investor Relations
Email: edc@daybreakoilandgas.com
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