LONDON, Sept. 22, 2011 (GLOBE NEWSWIRE) -- Alamo Energy Corp. (OTCBB:ALME) is pleased to report that following success of the initial phase of Alamo's completion program the company has initiated work in the field on the second phase of our 25 well program.
The initial phase yielded total flow test results of 349,000 cubic feet per day and increased production revenue by 38% from the KYTX acreage. We believe based on these results that the second phase to produce test results of 400,000 to 600,000 cubic feet per day.
The development program involves the completion of 25 previously drilled but not completed wells targeting the Devonian Shale and Big Lime formations. If results are inline with the initial phase, we believe the total production once all 25 wells are completed could exceed 2,000,000 cubic feet of natural gas per day, which, if achieved, would be a 190% increase from current production revenue.
Using Alamo's subsidiary KYTX Drilling, field work has commenced to complete the second phase of the remaining 20 which we expect to have the first well connected into the pipeline sale system by late September. The new production will be accommodated by the existing extensive pipeline infrastructure capable of handling increased production up to 9,000,000 cubic feet per day.
Allan Millmaker, Chief Executive Officer, commented: "The results from the initial program have exceeded our expectations and we believe our completion methods will allow us to see similar results from the second phase."
About KYTX Group of Companies.
The KYTX group of companies are wholly owned subsidiaries of Alamo Energy Corp and are located in Knox County, Kentucky in the Appalachian basin. The companies are KYTX Oil & Gas, KYTX Pipeline, and KYTX Drilling Company. Together, they contain 71 wells located on 6,540 acres, a 23-mile strategic pipeline network capable of handling up to 9,000,000 cubic feet of gas per day connected into the Delta system and one drilling rig, one service rig and associated well-servicing equipment.
About Alamo Energy Corp.
Headquartered in London, England and with operational offices in Knox County, Kentucky and Houston, Texas, Alamo Energy Corp. (OTCBB:ALME) is an independent company focused on the exploration, development and production of onshore oil and gas reserves in the United Kingdom and United States. The company's UK exploration program is focused on four blocks spread over 400 square kilometers in an onshore oil and gas province in South East England. Alamo's U.S. operations are focused on the development of assets in Texas, Kentucky, Tennessee and West Virginia. For more information visit www.alamoenergycorp.com/">www.alamoenergycorp.com
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Forward-looking Statements:
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