CALGARY, Alberta, April 7, 2004 (PRIMEZONE) -- DMT Energy, Inc. ("DMT" or the "Company") (Pink Sheets:DMTY) announces that along with continuing to implement its strategy with Western Canadian operations DMT has determined to focus the majority of its efforts in Q2 2004 towards exploration and development of its newly acquired interests in the Tucumcari Basin of Northeast New Mexico. DMT will initiate a seismic program in this quarter along with continuing an aggressive land acquisition program targeting other high impact prospects located in the surrounding area.
The company recently acquired 32,500 acres on the Granada Prospect in the Santa Rosa, New Mexico area based on detailed geological studies conducted by a highly respected Albuquerque-based geologist. Internally generated DMT geological and geophysical studies have confirmed significant hydrocarbon potential and indicate the likely presence of large structures. The prospect area is well located close to existing infrastructure and potential markets.
To date, adjacent drilling to the subject area has shown evidence of hydrocarbons and the neighboring Santa Rosa tar sands are known to contain several hundred million barrels of oil. It is believed the Santa Rosa heavy oil deposit may be related to significant subsurface oil accumulation. Nearby drilling indicates the possibility of substantial shallow gas reserves and large oil and gas targets at medium depth.
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 the company's recently acquired New Mexico prospects.
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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