VANCOUVER, British Columbia, Feb. 28, 2005 (PRIMEZONE) -- Micron Enviro Systems, Inc. ("MSEV") (OTCBB:MSEV) is pleased to announce that the operator has informed MSEV that the Stuart #60-8 Well in Texas has now been scheduled to be fraced the week of March 13, 2005. The frac will target the Big Saline formation. There have been unexpected delays to this point on this well, but the operator expects that all will be ready to go mid March. The operator is planning on conducting the largest frac on the Big Saline formation that they have ever performed. Enbridge Pipeline has been contacted for a hookup of the well to an existing tap on a sales line located about 500' from our wellhead. It is very critical that when you get the zone flowing gas and water, it is best to not shut the well in for any circumstances, this is why the frac is scheduled for mid March.
Bernie McDougall, president of MSEV stated, "It has been frustrating for MSEV management and shareholders over the past month while we were expecting news from this well already. However outside circumstances have caused the well to be delayed. Realizing this, the well will be fraced shortly and the remaining two wells on this prospect will commence right after the frac is completed. At this time, oil and gas prices are moving to higher prices and any new discoveries should be seen as a very positive step in the growth of MSEV. Our well in Alberta continues to flow and at this time we have more production and revenue than any other point in MSEV's history. We are excited about the future of the company and feel confident that a steady flow of news will be occurring again with the news from our Texas wells are known and other projects are consummated."
The Enchant Well in Alberta, Canada was recently put on line for sales. Anadarko Canada stated that the initial flow rates of approximately 49 barrels of oil per day and is continuing to flow. The operator of the well feels that with a chemical stimulation, the well could flow at an even higher rate. An extensive plan is now being devised to fully exploit this prospect in the near future.
MSEV is making a more concerted effort to market itself to prospective shareholders. The marketing campaign has commenced and will be occurring throughout the coming months as drilling results from the Texas and Canadian prospects are announced.
MSEV is an emerging oil and gas company that has both oil and gas producing properties. MSEV's goal is to become a mid-range oil and gas producer that focuses on the exploration, discovery and delivery of gas and oil to the North American marketplace. MSEV currently has 16 independent sources of oil and/or gas revenue. MSEV's production is from ten oil wells in Canada, and six wells producing oil and/or gas wells in Texas. MSEV is presently involved in multiple oil and gas prospects, and continues to look for additional projects that would contribute to building MSEV's market capitalization.
If you have any questions, please call MSEV at (604) 646-6903. If you would like to be added to MSEV's update email list, please send an email to info@micronenviro.com requesting to be added.
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, volatility of oil and gas prices, product demand, market competition, and imprecision of reserve estimates, and actual ability to recover oil and gas that is present or represented to the company by the operator. For all details regarding working interests in all of MSEV's oil and gas prospects or any previous news releases, go to the SEC website. You should independently investigate and fully understand all risks before making investment decisions.