Creston Resources Executes Crude Oil Contract
August 07 2007 - 11:48AM
Business Wire
Creston Resources LTD (Pink Sheets:CSTJ) has executed a contract
with a local refinery in the Uintah basin of Utah for crude
produced from several of its wells that were recently brought on
line. Brian Jones, president of Creston Resources, stated,
�Securing contracts with local refineries is an important step in
our development program and towards our goal of generating positive
cash flow. We have brought several wells into production since our
last update, and are confident we can achieve production from the
14 wells targeted and prioritized by management with the capital
raised in our recent debt offering.� About Creston Resources LTD
Creston Resources is an emerging oil and gas exploration and
production company focused on the development in the prolific
Uintah basin of Utah. The company's strategy includes increasing
production by reworking its lower production wells (which may
include, in some cases, perforating new zones) and drilling new
wells from among the offset and infield locations available on its
acreage. Most locations are believed to offer multiple prospective
pay zones, from moderately shallow to moderately deep. Creston will
also seek additional opportunities to acquire projects with
production and/or acreage with proven or potential reserves. For
more information, visit www.crestonresources.com. About Forward
Looking Statements Statements contained in this release that are
not historical facts are forward-looking statements that involve
risks and uncertainties which may cause the company's actual
results in future periods to be materially different from any
results discussed in or implied by such forward-looking statements.
Such risks and uncertainties include, without limitation, the
company's ability to acquire productive oil and/or gas properties
and to successfully drill and complete oil and/or gas wells on such
properties, the inherent uncertainty of oil and gas exploration and
production, general economic conditions, as well as other risks and
uncertainties that may be detailed from time to time in additional
documents issued by the company. Readers are cautioned not to place
undue reliance on any forward-looking statements. The company
assumes no obligation to update any forward-looking statements
contained in this document.
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