CALGARY, Alberta, Canada, April 5, 2004 (PRIMEZONE) -- DMT Energy, Inc. ("DMT" or the "Company") (Pink Sheets:DMTY) reports that it has completed the acquisition of the Granada Prospect, a 21,204 acre oil & gas exploration property in the Tucumcari Basin of Guadalupe County, New Mexico.
Fred DaSilva, DMT President & CEO stated, "This is an extremely significant event in the potentially explosive growth of DMT and in what appears to be an aggressively pursued exploration and development area within New Mexico. We are extremely delighted to be holding 32,500 acres (11,300 acres announced on March 17, 2004) in an area of significant interest to both Yates Petroleum Corporation and Devon Energy Corporation (AMEX:DVN). During New Mexico State land sales in February and March we have seen the per acre costs as high as $1,000 and we strongly believe that our strategy to enhance shareholder value is being implemented. These newly acquired lands are of significant interest to DMT and with the positive activity going on in the areas surrounding DMT's land; the upside potential for us is extremely significant. We will immediately facilitate a plan to explore and develop a core area that is showing extremely significant potential."
DMT is currently in discussions with several medium to large exploration and production companies which are materially interested in completing a joint venture arrangement on our recently acquired New Mexico prospects.
The company will release further development and progress reports on New Mexico as they become available.
Project data and other relevant information will be available on the DMT website, www.dmtenergyinc.com, in the coming weeks.
For further information please contact Fred DaSilva, President & CEO at 403-264-7869.
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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