Matrixx Resource Holdings, Inc.
OTC Bulletin Board : MXXR

Matrixx Resource Holdings, Inc.

April 05, 2007 20:00 ET

Matrixx Resource Holdings, Inc.: Drilling Update

LOS ANGELES, CALIFORNIA--(CCNMatthews - April 5, 2007) - Matrixx Resource Holdings, Inc. (OTCBB:MXXR), announced today that operator and Matrixx plan to re-complete the Buck Snag Schuirring No. 2 well. Additionally, the Company has been informed that the Fite No. 3 well at Sandy Point was unsuccessful.

The Company has been notified by the operator regarding the drilling of the Fite No. 3 well at Sandy Point. Drilling reached target depth of 6,700 feet Monday. The well was logged and found the frio sands 10' below the Fite No. 1, however, logging was unsuccessful at locating any discoveries.

Further, Matrixx was informed that the Schuirring No. 2 at Buck Snag will be re-completed at the shallower pay sand and will be back online for sales.

Matrixx has remained steadfast in its efforts in acquiring growth and investment opportunities in the oil and gas sector with the intent of providing the Company and its shareholders a much-improved increase in shareholder value. Additionally, the Company is now positioned to aggressively exploit its properties to accelerate cash flow and to provide rapid returns on its investments in the oil and gas sector.

Safe Harbor Statement: This press release contains forward-looking statements as defined in The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan", "confident that", "believe", "scheduled", "expect", or "intend to", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results may differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to, the ability of Matrixx to sell the applicable products and the acceptance of those newly designed products by the market, market conditions, the general acceptance of the Company's products, competitive factors, timing, and other risks described in the Company's SEC reports and filings.

Contact Information

  • Matrixx Resource Holdings, Inc.
    Konstantine Tsakumis
    Media & Investor Relations
    (347) 647-1508