KOKO Petroleum, Inc.

KOKO Petroleum, Inc.

September 02, 2005 06:30 ET

KOKO Petroleum Inc. Announces Corporate Update-Sept. 2, 2005

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 2, 2005) - KOKO Petroleum Inc. (PINK SHEETS:KKPT) is pleased to announce that the company is moving ahead with the Corsicana, Texas Project. The Corsicana Field Prospect consists of 1000 acres and provides a low cost opportunity to develop known oil bearing rocks in shallow geological structures. KOKO Petroleum Inc. has a 45% working interest in this oil & gas project. This area is oil rich, having produced 250 million barrels of oil within a 20 mile radius over the past 30 years.

The Acreage is in a structurally high "good" position with three oil bearing zones. All zones have produced.

Seismic shows good structural position to trap oil & gas in deeper zones. KOKO Petroleum, Inc. have 3 producing Pecan Gap wells in the 1000 acre Corsicana Project. The company has no debt.

To compliment the activities in Corsicana, Texas, KOKO Petroleum Inc. have acquired a 45% working interest in the Hill Project. The Hill Prospect has 2 oil bearing zones, and KOKO Petroleum Inc. is completing their first well on this project. News on this well will be out shortly.

With continued success, approximately 50 wells could be drilled on the existing acreage. KOKO Petroleum intends to fully develop its interest in this prospect. KOKO Petroleum Inc. is aggressively pursuing other oil & gas projects in the United States & Canada.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications which may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above.

Contact Information

  • KOKO Petroleum Inc.
    Andrea Bleasdale
    Toll Free: 1-888-740-7276