FARMINGTON, N.M., July 21, 2006 (PRIMEZONE) -- WW Energy Inc. (Pink Sheets:WWNG) announced today that subsidiary company, WW Oil & Gas Inc., has acquired the mineral lease exploitation rights to four sections (2560 acres) of highly prospective oil and gas drilling targets in Southern New Mexico in the most recent state land lease sale.
Named the "Horse Property," geophysical factors indicate a high probability of hydrocarbons. Established wells to the south of this area have produced at 60,000 barrels of oil per day. Further purchases of the rights to lease land in this area are anticipated during the summer.
WW Oil and Gas continues to seek current producing properties with significant reserves for acquisition. Two such properties with significant reserves and current production are at present being reviewed as to valuation.
About WW Energy Inc.
WW Energy Inc. is a holding company that was created to acquire oil and gas service companies as well as oil and gas related assets through two wholly owned subsidiaries.
WW Oil & Gas Inc., with offices in New Mexico and Utah, was established in 2005 to acquire leases and oil and gas related assets. Such acquisitions are for the purposes of development, exploration, and exploitation.
WW Trucking Inc., formed in 1999, is a leading oil and gas services company for the oil field services industry in Utah, Colorado, New Mexico and Arizona (The Four Corners Area). Their existing business operations are in transporting fresh production water for oil drilling/exploration and waste water for disposal. They also provide services for heavy hauling of drilling and well equipment needed in the oil and gas production and exploration industry.
Forward Looking Statements
A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results of WW Energy, Inc. may achieve could differ materially from any forward- looking statements due to such risks and uncertainties, including but not limited to, the fact that no assurance can be given that any proposed acquisitions will be consummated at all.
Web Site: http://www.wwenergyinc.com/