PrimeGen Energy Begins Drilling "Rod 10-21"
19 Novembre 2009 - 10:00PM
Marketwired
PrimeGen Energy Corp. (PINKSHEETS: PGNE) ("PrimeGen" or the
"Company") wishes to advise that on November 11, 2009 it
successfully commenced drilling the "Rod 10-21" well in
Rodnikovskogo, Russia and is estimated to reach a target depth by
Wednesday, November 25th.
The property is located in the Krasnoarmeiskome District,
Saratovskoi Oblast in Russia, one of the most significant oil and
gas regions in the country with advanced infrastructure and more
than 60 years of oil and gas production history. Saratov lies in
the European part of Russia and borders Kazakhstan, the largest oil
producing country in Central Asia. The property covers an expansive
area of approximately 250 sq. km.
Continuing 3D seismic data collection and analysis of the
property is scheduled for 2010 and will be running concurrently
with the drilling program. Several additional high potential drill
targets have already been identified and will be further defined
and evaluated for feasibility during the next phase of work on the
property. The license is within a highly prospective region with
existing oil production on adjacent licenses and the super-giant
THK-BP gas field.
About PrimeGen Energy Corporation
PrimeGen Energy Corp. is an oil and gas exploration Company
whose primary focus is exploring and developing high potential
unconventional resource plays. The Company's strategy and
development assets are focused on a prolific and historic oil and
natural gas resource play in Krasnoarmeiskome District, Saratovskoi
Oblast in Russia. The Company is headquartered in Bridgewater, NJ
and has offices in Moscow, Russia. PrimeGen Energy plans to use its
comparative advantages in certain geographic regions to expand
rapidly through strategic acquisitions of small oil and gas
producing entities and production assets including wells,
properties, operating equipment, and pipelines.
Forward-Looking Statements
This news release contains "forward-looking statements," as that
term is defined in Section 27A of the Act and Section 21E of the
Securities Exchange Act of 1934. Statements in this press release,
which are not purely historical, are forward-looking statements and
include any statements regarding beliefs, plans, expectations, or
intentions regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
the development of an early stage company in the alternative energy
industry, its products, and the entry into new markets for such
products. These forward-looking statements are made as of the date
of this news release, and the Company assumes no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although the Company believes that the
beliefs, plans, expectations, and intentions contained in this
press release are reasonable, there can be no assurance those
beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consider all of the information set
forth herein and should also refer to the risk factors disclosed in
the Company's current and periodic reports filed from time to time
with the Securities and Exchange Commission.
Contact: Robert Charlton President PrimeGen Energy Corp.
info@primegenenergycorp.com
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