Powder River Basin Gas Corp.
OTC Bulletin Board : PRVB

Powder River Basin Gas Corp.

June 14, 2005 07:00 ET

Powder River Reports on Significant Progress in Lincoln County and Springhill

CALGARY, ALBERTA--(CCNMatthews - June 14, 2005) - Powder River Basin Gas Corp. (OTCBB:PRVB) -

Company Recruits Experienced Operations Manager to Accommodate Growth

Powder River Basin Gas Corp., a revenue generating producer and acquirer of crude oil and natural gas, today announced it has completed the remedial work on the Lincoln County project and is scheduled to start the re-completion program in July of 2005. The existing wells have been repaired and are currently producing an average of 25 BOPD. The infrastructure is now in place to handle the increased volume as the wells are brought into production. The 30 well re-completion program is scheduled to commence in July and is expected to be completed in approximately 7 months. Based on the latest engineering studies the wells are expected to produce in excess of 25 BOPD per well.

The Company also announced it has completed the Webster Parish section of the Springhill project which consists of one salt water disposal well and six producing wells. All six producers have been re-worked and are being brought into production as the fluid levels are stabilized. Five are now in production with the sixth expected to be turned on the week of June 15th. Over the next 2 weeks production on the Webster Parish section is expected to average approximately 50 BOPD.

Work will commence on the Bossier Parish section of the Springhill Project the week of June 15th, 2005 with nine additional wells expected to be completed by August 31, 2005. Production on the Springhill project is expected to stabilize at approximately 130 BOPD within 30-45 days of completion.

Additionally, the Company is pleased to announce the appointment of an Operations Manager in the Tulsa, Oklahoma. field office. He brings over 20 years management experience in the Operations area of publicly traded companies including Sun Oil Company, Texas Easter Pipeline Company and Vintage Petroleum Inc.

Powder River Basin Gas Corp. is active in production and acquisition of crude oil and natural gas.

Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.

This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.


Contact Information

  • Powder River Basin Gas Corp.
    Patrice Nazareno
    Investor Relations
    Toll Free 1-866-515-7708
    or
    Powder River Basin Gas Corp.
    Stephanie Edgemon
    Investor Relations
    (602) 466-2422
    www.powderrivergascorp.com
    or
    DeMonte Associates
    Cynthia DeMonte
    Public Relations
    (212) 605-0525