CALGARY, Alberta, Canada, Dec. 22, 2003 (PRIMEZONE) -- DMT Energy, Inc (DMT or the Company) (Pink Sheets:DMTY) announces that the recently completed Acadia well is expected to produce DMT's first revenue, cash flow and production for fiscal 2004.
Positive flow test and reservoir pressures in the Cretaceous Viking zone at Acadia indicate a successful commercial gas well. The well will be tied-in for the taking of production early in the New Year. Initial production testing will provide more accurate production volumes and long term potential.
Fred DaSilva, DMT President & CEO, announced, "We look forward to the first quarter of 2004 and our ability to publicly announce the Company's first revenue and production volumes in that quarterly statement. We look upon the success of Acadia as a significant step forward for our new energy company. It is with great pride to move into a new calendar and fiscal year on the heels of a successful year end."
For further information please contact Fred DaSilva, President & CEO at 403-264-7869 or Giuliano Tamburrino, CFO at 403-297-9238.
Certain information and statements included in this news release constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include known and unknown risks, uncertainties and other factors, which may cause the results, performance, or achievements of the Company to be materially different from any further results, performances, or achievements expressed or implied in such forward-looking statements.
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