Alamo Increases Acreage Position in Appalachian Basin
June 28 2011 - 9:00AM
Alamo Energy Corp. (OTCBB:ALME) is pleased to announce the
acquisition of approximately 2,500 acres in Knox County, Kentucky.
The acquisition falls inline with Alamo's strategy of becoming a
significant player in the Appalachian basin. The new acreage is
located contiguous to existing acreage and infrastructure allowing
for new wells to be tied into Alamo's 23-mile pipeline that has a
capacity of up to 9,000,000 cubic feet per day.
Utilizing Alamo's in-house drilling company, we believe that the
new acreage will allow for an additional 125 wells targeting the
Devonian Shale and Big Lime formations based on 20-acre
spacing.
Allan Millmaker, Chief Executive Officer, commented: "Whilst our
strategy is to expand aggressively in the Appalachian basin, we are
always looking to maximize returns. The new acreage will allow us
to take advantage of potential cost savings not only at the
drilling and completion stage but also when on production because
of the proximity to existing Alamo infrastructure."
About KYTX Group of Companies
The KYTX group of companies are wholly owned subsidiaries of
Alamo Energy Corp and are located in Knox County, Kentucky in the
Appalachian basin. The companies are KYTX Oil & Gas, KYTX
Pipeline, and KYTX Drilling Company. Together, they contain 71
wells located on 4,040 acres, a 23-mile strategic pipeline network
capable of handling up to 9,000,000 cubic feet of gas connected
into the Delta system and one drilling rig, one service rig and
associated well-servicing equipment.
About Alamo Energy Corp.
Headquartered in London, England and with operational
offices in Houston, Texas, Alamo Energy Corp. (OTCBB:ALME) is an
independent company focused on the exploration, development and
production of onshore oil and gas reserves in the United Kingdom
and United States. The company's UK exploration program is focused
on four blocks spread over 400 square kilometers in an onshore oil
and gas province in South East England. Alamo's U.S. operations are
focused on the development of assets in Texas, Kentucky, Tennessee
and West Virginia. For more information, visit
www.alamoenergycorp.com The Alamo Energy Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7619
Forward-looking Statements:
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and the Company's growth and business
strategy. Words such as "expects," "will," "intends," "plans,"
"believes," "anticipates," "hopes," "estimates," and variations on
such words and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and
unknown risks and are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties
and contingencies, many of which are beyond the control of the
Company. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Factors that could
cause actual results to differ materially include, but are not
limited to changes in the Company's business; competitive factors
in the market(s) in which the Company operates; risks associated
with operations outside the United States; risks associated with
oil and gas operations; and other factors listed from time to time
in the Company's filings with the Securities and Exchange
Commission. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Cautionary Note to U.S. Investors - The United
States Securities and Exchange Commission permits oil and gas
companies, in their filings with the SEC, to disclose only reserves
that comply with the definitions presented at Rule 4-10(a) of
Regulation S-X. We use certain terms in this press release that the
SEC's guidelines strictly prohibit us from including in filings
with the SEC. Examples of such disclosures would be statements
regarding "probable," "possible," or "recoverable" reserves among
others. U.S. Investors are urged to consider closely the disclosure
in our Form S-1, File No. 333-169609, available from us at 10497
Town & Country Way, Suite 820, Houston, Texas, 77024, United
States of America.
CONTACT: Alamo Energy Corp.
Philip Mann
+1 832-436-1832
ir@alamoenergycorp.com
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