SOURCE: Irwin Energy, Inc.

October 18, 2005 09:51 ET

Irwin Energy, Inc., Corporate Update

VANCOUVER, BC -- (MARKET WIRE) -- October 18, 2005 -- Irwin Energy, Inc. (OTC: IWNN) (the "Company") is pleased to announce the following update on its NZOG 17-01 well in Arizona.

As of October 11, 2005 the operator of the NZOG 17-1 has competed initial preliminary hydrocarbon tests. These completed tests have confirmed the presence of oil/hydrocarbons and have as of October 13, 2005 taken steps to install a pumping station. Once this pumping station is up and running, (which is planned in the next few days), tests will be conducted to determine a stable daily flow rate.

President John Gaetz stated that the, "Company would like to take this time to thank its share holders for their patience over the last couple of months. We are very excited to have made this announcement as to the success of this well. Once NZOG 17-1 is in full production, the product will be pumped into production tanks on the property for easy 365-day access to be delivered by truck to Giant Industries Refinery in New Mexico, 85 miles away.

About Irwin Energy, Inc.

Irwin Energy, Inc., based in Vancouver, B.C., was founded for the purpose of engaging in the exploration for and acquisition, development and production of crude oil and natural gas, and for other related activities. In the oil and gas arena, Irwin Energy seeks out low-risk opportunities to develop positive cash flow from proven and probable oil and gas plays. Irwin Energy plans to grow exclusively through efficient reinvestment of its internally generated cash flow in exploration and production operations, and through limited external financing to build ancillary businesses.

Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.

Contact Information

  • Contacts:
    Kristyn Rose
    Andy Leitao