Houston, Texas, April 28, 2022 (GLOBE NEWSWIRE) -- Church & Crawford Inc (CCWF) is an oil and gas exploration and production (E&P) company focused on proven fields exploited by well-managed independent oil companies extracting reserves at lower risk and lower cost than unproven prospects. We are focused on domestic and international areas where major oil and gas producing companies have reduced their exploration efforts in search of larger reserves.
Management is pleased to announce an update of operations as the company moves into the next phase of increased production on an average of approximately 10% over the last month, after the rework and re-activated new wells, in addition, has begun an update on the existing reserve evaluation report from 2018 for its additional reserve evaluation estimates and updates for this year 2022, this will include results for our Proved Developed Producing (PDP), Proved Developed Non-producing (PDNP), Proved Undeveloped (PUD), and Probable Undeveloped (PrUD) reserves, the additional work is for the new properties unaccounted from the last reserve report.
Church & Crawford Vice President Timothy Roberson said, “our properties located in Oklahoma’s counties Beaver, Canadian, Creek, Garfield, Garvin, Kingfisher, Oklahoma, Okmulgee, Woods, and Woodward Counties have shown significant progress since our new implementation plan started on the past February 2022 and we will continue to bring back more inactive wells into production and optimize our existent oil & gas production through reduced production cost, improved production rates.”.
Our plan for the rest of this year 2022, focuses on our properties located on Oklahoma’s “STACK play” in the Anadarko Basin, today we provide additional field services on approximately 20 to 30 wells on four of our more important leases, this will create further revenue income, in addition to increasing our proven reserves in a short amount of time in supporting Church & Crawford’s core business. We will continue to update our shareholders as soon as more information becomes available.
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. About Church & Crawford Inc. Headquartered in Houston, Texas, Church & Crawford Corporation is a public traded company (CCWF). Church & Crawford Inc is an independent oil and gas company. The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests. Once acquired, the company intends to develop each property to maximize the income from each property by refurbishing and improving the existing production. Forward-Looking Statements: can give no assurance that such expectations will prove to be correct. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Factors that could cause the company’s actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: The success of the company’s exploration and development efforts; the price of oil, gas, and other produced gasses and liquids; the worldwide economic situation; changes in interest rates or inflation; the ability of the company to transport gas, oil, and other products; the ability of the company to raise additional capital, as it may be affected by current conditions in the stock market and competition in the oil and gas industry for risk capital; the company’s capital costs, which may be affected by delays or cost overruns; cost of production; environmental and other regulations, as the same presently exist or may later be amended and the company’s ability to identify, finance and integrate any future acquisitions. You are urged to carefully review and consider the cautionary statements and other disclosures. Forward-looking statements speak only as of the date of the document in which they are contained, and Church & Crawford does not undertake any duty to update any forward-looking statements except as may be required by law. The statements which are not historical facts contained in this release are forward- looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. 2022 Church & Crawford Inc. The information herein is subject to change without notice. Church & Crawford Inc shall not be liable for technical or editorial errors or omissions contained herein.
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