TULSA, Okla.–(BUSINESS WIRE)–Empire Petroleum Corporation (OTCBB:EMPR), a Tulsa, Oklahoma-based company, announced today that it has completed testing on the Empire Cobble Cuesta 1-12-12N-34E, Nye County, Nevada. Testing was carried out over several intervals in the well; however no hydrocarbons were recovered. Therefore, the Company has taken steps to plug and abandon the well.
The Company said it would study, along with geological and engineering consultants, all of the data obtained from drilling, logging and testing to determine if further drilling can be justified since it is possible that excessive mud exposure in the hole for over 5 months may have seriously impeded the recovery process.
Empire now has earned an additional 30% working interest by drilling the Cobble Cuesta 1-12 well and now owns a 40% working interest in 75,521 acres of leases in this prospect.
Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties incident to the Company’s business, including risks inherent in oil and gas exploration and development and other risks described in the reports and statements filed by the Company with the Securities and Exchange Commission. As a result, actual results may vary materially from those described in the forward-looking statements.
Empire Petroleum Corporation
Albert E. Whitehead, 918-488-8068
Chairman & CEO