DALLAS, TX--(Marketwired - June 21, 2016) - Energy Revenue America, Inc. (OTC PINK: ERAO), a firm focused on the acquisition, development and exploration of Coal Bed Methane (CBM) natural gas, is pleased to provide an update on the Company's recent activities.
As Energy Revenue America Inc. prepares to reopen existing wells and drill new wells this summer it is pleased to see the natural gas prices in the US on the rise again.
Arthur E. Berman (a petroleum geologist with 36 years of oil and gas industry experience) stated this week, "It is conservative to say that gas may double in the next year or so." Mr. Berman is an expert on U.S. shale plays and is currently consulting for several E&P companies and capital groups in the energy sector.
EIA is slightly less optimistic but still says that gas prices will increase to $3.31 by the end of 2017. Mr. Berman thinks this is overly conservative because it assumes an immediate and improbable return to production growth once the supply deficit and higher prices are established. Mr. Berman expects a supply deficit by the end of 2016.
"We are very pleased that natural gas prices are on the rise again and it comes at a great time as Energy Revenue America Inc. prepares to reopen existing wells and drill new wells this summer in Nowata County Oklahoma," stated Charles H. Havens, ERA's Chairman and Chief Operating Officer.
Nowata County is located in the Cherokee Basin which is the eighth largest coal bed methane basin in the United States and covers approximately 26,500 square miles. Production of coal bed methane gas has been ongoing in the Cherokee basin since the 1980s. There are multiple producing coal zones in the Cherokee Basin including the Rowe, Riverton, Weir-Pitt, and Dawson.
About Energy Revenue America, Inc.
Energy Revenue America, Inc. is focused on the acquisition, development and exploration of unconventional natural gas projects, primarily Coal Bed Methane (CBM) and seeks to acquire and develop properties with significant undeveloped potential and apply technical and operating expertise to maximize the value of these resources.
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as INCL or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
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