Alamo Commences Development of KYTX Assets
June 30 2011 - 9:00AM
Alamo Energy Corp. (OTCBB:ALME) is pleased to announce that
following its acquisition of KYTX group of companies, Alamo has
commenced a program to complete 25 wells, previously drilled but
not in production to increase revenue.
In order to quickly boost production, Alamo has commenced
operations to complete these wells by conducting advanced
multi-stage fracs utilizing the company's in-house workover
capability and specialist service companies. We are targeting the
Devonian Shale and Big Lime formations which currently produce
300,000 cubic feet of natural gas per day from the existing wells.
We believe that after executing this program with improved
completion procedures, we will add up to 350,000 mcf per day of
production.
We believe the land-to-resource ratio enables 20-acre spacing,
which will allow for up to 256 additional wells. The extensive
pipeline infrastructure in place is able to accommodate increased
production up to 9,000,000 cubic feet per day.
Allan Millmaker, Chief Executive Officer, commented: "As
previously outlined, our aim is to maximize revenue from existing
drilled wells before embarking on a drilling program on our
recently expanded acreage. We plan to expand aggressively our
operations in the Appalachian basin using the established KYTX
infrastructure to accommodate increased production."
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 6,540 acres, a
23-mile strategic pipeline network capable of handling up to
9,000,000 cubic feet of gas per day 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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