TULSA, Okla., March 7, 2006 (PRIMEZONE) -- Deep Rock Oil & Gas, Inc. (Pink Sheets:DPRK) announced today that it has begun drilling the last of a four well project in Northern Oklahoma. The drilling is being done as part of the Company's efforts to develop its joint-venture pipeline with Apollo Resources International, Inc. (OTCBB:AOOR)
As part of a previously announced agreement, Deep Rock will initially develop gas production within a 5 mile radius of the Washington Gathering System. The joint-venture gives Deep Rock a 49.5% revenue interest in all fees for production that flows through the pipeline. The pipeline is located in a large, undeveloped area prone to shallow gas reserves and relatively inexpensive exploration and production costs.
Robert Garner, CEO of Deep Rock stated, "We continue to be encouraged by the gas zones encountered in our developmental drilling program. We expect to announce the results of 3rd and 4th wells in the near future."
About Deep Rock Oil & Gas, Inc.
Deep Rock Oil & Gas, Inc. ("Deep Rock or the Company"), is an oil and gas exploration and production company and currently has working interests in 33 wells, ten of which are operated by the Company. By utilizing advanced recovery technologies, sound engineering and experienced committed management, Deep Rock has developed a proven corporate growth strategy of identification, acquisition and development of domestic oil and gas reserves thereby reducing U.S. dependence on foreign oil.
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