VANCOUVER, British Columbia, March 24, 2006 (PRIMEZONE) -- Micron Enviro Systems, Inc. (OTCBB:MSEV) (Frankfurt:NDD) ("Micron") is extremely pleased to announce that it has been informed by the operator that operations are now underway on the Martex oil and gas prospect in Jack and Palo Pinto County, Texas. Drilling is expected to be completed within the next 10-14 days.
Bernie McDougall, President of Micron stated, "It is great to be drilling again on our Texas prospect. It has been many months coming and with the current price of oil and gas, the timing would be tremendous for us to potentially add a new source of revenue. When you couple this new conventional drilling with our recently announced entry into the world-renowned Athabasca Oil Sands region of Alberta, clearly this could be an explosive period of growth for MSEV. Also, our recent listing on the Frankfurt Stock Exchange has generated a large number of new enquiries from Europe regarding the future growth and current activities of the company, and we plan to enhance this interest further by hiring a European based investor relations firm. Our goal is to be a mid-range oil and gas company and we feel with the direction the company is moving towards in terms of the massive Alberta Oil Sands, we are making strives to achieve this goal."
Micron recently announced its entry in the Athabasca region of Alberta, Canada, which is the world's largest Oil Sands region. This new Oil Sands project is located just south of Fort McMurray, Alberta, and is in close proximity to major Oil Sands projects by Devon, Encana, and Cononco Philips. At a recent presentation, Encana's COO stated that Encana's Christina Lake Prospect, which is within 15 miles of Micron's new prospect, could grow to produce 250,000 barrels per day. The closest Oil Sands project adjacent to Micron's new project is the Whitesands Project, that has stated reserves of 1.3 billion barrels of oil in place and has just initiated the start-up of a test plant.
Micron is an emerging oil and gas company that has exposure to the Athabasca Oil Sands of Alberta, Canada, which is the largest Oil Sands region in the world, and has production from multiple conventional oil and gas wells. Micron is one of, if not the smallest market capitalized companies with exposure to the Alberta Oil Sands. Micron's goal is to become a junior oil and gas producer that focuses on the exploration, discovery and delivery of gas and oil to the North American marketplace. Micron currently has multiple independent sources of oil and/or gas revenue from production in Canada and Texas. Micron is presently involved in multiple oil and gas prospects, and continues to look for additional projects that would contribute to building Micron's market capitalization including additional Oil Sands projects.
If you have any questions, please call Micron at (604) 646-6903. If you would like to be added to Micron's update email list, please send an email to info@micronenviro.com requesting to be added.
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors" in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at www.SEC.gov. For all details regarding working interests in all of MSEV's oil and gas prospects or any previous news releases go to the SEC website. You should independently investigate and fully understand all risks before making investment decisions.