SOURCE: Georgia Exploration, Inc.

March 07, 2007 15:12 ET

Georgia Announces Mound Branch MT19-1 Test Results

HOUSTON, TX -- (MARKET WIRE) -- March 7, 2007 -- Georgia Exploration, Inc. (OTCBB: GXPL) is pleased to announce the four point test results on the Mound Branch MT19-1 Well. The MT19-1 Well is a Mississippi Limestone formation well and is the first Mississippi well tested as part of Georgia's Mound Branch development program in Elk County, Kansas. The operator has advised Georgia that the four-point test on the well-indicated absolute open flow at 1.4 mmcf gas per day, and the 72-hour flow test indicates the well will be produced at 350 to 400 Mcf/day.

Georgia acquired its interest in the Mound Branch Prospect on February 1, 2007. It currently holds approximately 8,000 gross acres in Elk County, Kansas and interests in nine existing wells that have been drilled and completed on the acquired lease acreage. The existing wells are currently undergoing testing, and are awaiting the construction of and the interconnection to the Mound Branch Gathering System.

Sam Nastat, Georgia's President, stated, "The MT19-1 test results reinforces our initial assessment of the Prospect and provide further quantitative confirmation of the prospects potential and its contribution to our initiatives to grow our reserve base."

Separately, effective March 8, 2007, the Company has changed its name to Gulf Western Petroleum Corporation. The shares of the Company will cease to trade under the symbol GXPL and will trade under the new symbol GWPC.

This press release may include forward-looking statements. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. For example, the extraction and sale of natural gas from the wells involves a number of costs and risks, which may limit our ability to generate cash flow from the wells, or significantly any anticipated net cash flow. In addition, the business of Georgia Exploration is subject to a number of risks typical of oil and gas exploration and development company including, among other things, the inherent uncertainties associated with oil and gas exploration; laws, environmental, judicial, regulatory, political and competitive developments in areas in which Georgia Exploration operates; and technological, mechanical and operational difficulties encountered in connection with Georgia Exploration's activities.

Contact Information

  • For more information, contact:

    Sam Nastat
    (713) 355-7001
    Georgia Exploration, Inc.
    President