SOURCE: Eldorado Exploration, Inc.

October 14, 2008 15:46 ET

Eldorado Exploration Commences Drilling

IRVINE, CA--(Marketwire - October 14, 2008) - Eldorado Exploration, Inc. (PINKSHEETS: EDEX) announced today that its well in southern Illinois has commenced drilling.

The well is targeting a 'PIP' identified reef system that has produced oil in the surrounding area; total depth is expected to be reached within the next week.

Eldorado Exploration, Inc. is an independent oil and gas company that utilizes a process called Passive Induced Polarization 'PIP' to detect electrostatic signals given off of some geological anomalies. In most cases, a positive response indicates a hydrocarbon accumulation and a negative reading is almost always a dry hole. When used with the standard geological tools and methods, the PIP process enhances the odds of success for discovering oil and gas.

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, uncertainty of future revenue and profitability, and fluctuations in its quarterly operating results. Please also be advised that Eldorado Exploration is a non-reporting Pink Sheets company and is not required to be registered with the Securities and Exchange Commission.

For additional information about Eldorado Exploration, please visit or e-mail

Contact Information

  • Contact:
    David T. Laurance