SOURCE: Green Star Energies, Inc.

November 03, 2009 15:15 ET

Green Star Energies Issues Initial Production Update for the Eberle #1

The Operator Has Already Discovered Significant Pressures and Showings of Oil From the Eberle #1 Well

VANCOUVER, WA--(Marketwire - November 3, 2009) - Green Star Energies, Inc. (PINKSHEETS: GSRE) is pleased to provide an update on the operations at Eberle #1 Well in Bastrop County, Texas. After reopening the well, the pressure gauge read approx. 1200 psi at the well head after giving it a period of time to confirm the steady pressure.

The operator reopened the well to prepare rods and drilling equipment but was met with overwhelming pressure which forced the operator to flare (or burn) the natural gas and produce oil at this level due to significant pressure of both oil and gas. While the focus of the current zone has been gas recovery, the level of existing oil production has been overlooked. In order to produce the oil, the gas must be distributed or burned off which is why we originally wanted to connect the gas line before we started oil production to be able to capitalize on proceeds from both.

Initial showings have indicated better than expected production of oil. This has lead us to consider production immediately until pressure slows and new geological information is evaluated. As is standard with all oil and gas operations we won't know exactly how good the pressure will hold up until we have continuous production for a consistent period. The fracturing has clearly done its job, possibly allowing for strong production without the full drilling requirements to enter the lower zone at this time. There is news coming back from the field daily and management is preparing the release of more information as it is organized and made available over the next couple days.

"I am extremely pleased with the progress made thus far at the Eberle #1 site and look forward to hearing updates first hand as new information and further development shapes our results in the coming days. I had the pleasure of taking a member of our Stockholder Committee onsite last week and welcome the interest anyone else might have to visit," stated President/CEO Brandon Toth.

The latest pictures posted 11-02-09 and all new photos will be added to the website through this link: http://www.greenstarenergies.com/eberle_photos.html

ABOUT GREEN STAR ENERGIES, INC.

Green Star is an energy company with interests in oil and gas development and production. Green Star follows an aggressive business model, focusing on redevelopment of oil and gas fields with a history of production, and also, exploration of green projects and businesses such as biodiesel and wind power. Please visit our brand new website: http://www.GreenStarEnergies.com

Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Green Star Energies, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. Please read the full disclaimer here: http://www.GreenStarEnergies.com/disclaimer.

Contact Information

  • Contact:
    Green Star Energies, Inc.
    Brandon Toth
    President/CEO
    Contact: 1-360-977-6820
    Email: Email Contact