ST. PETERSBURG, Fla., May 18, 2009 (GLOBE NEWSWIRE) -- Adventure Energy Inc. (OTCBB:ADVE), an energy exploration company with operations in the Appalachian Basin, announced today that the drilling contractor (Rebell Oil) is completing the final stages in preparation for the Company's initial delivery of production from the Larry Hardin #1 well.
As previously reported, the Larry Hardin #1 well was completed at a Total Depth of 404 feet. Over the next week, Rebell Oil will replace the temporary tank with a 200 barrel tank and work with the local power company to deliver power to the well site. Initial estimates for production from this well were for 15-18 BOE/day.
"Although the weather has pushed back our schedule by about a week, we are now ready to finish the completion process and deliver the Company's first production of oil," said Wayne Anderson, President of Adventure Energy, Inc. "We are also excited to see that the initial production estimates from the Larry Hardin well will fall on the conservative side and are now anticipating production of 20-25 BOE/day."
About Adventure Energy, Inc.
Adventure Energy, Inc., is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2008.