SOURCE: Infinity Energy Resources, Inc.

Infinity Energy Resources, Inc.

September 19, 2013 07:30 ET

Robert Fleming Joins Infinity Energy Resources Team to Manage Seismic Mapping Program

Consultant Brings 38 Years of Geoscience Experience to Offshore Nicaragua Project

OVERLAND PARK, KS--(Marketwired - Sep 19, 2013) - Infinity Energy Resources, Inc. (OTCQB: IFNY), an independent oil and gas exploration and development company, today announced that it has retained Robert S. Fleming as a geophysical consultant, with responsibility for an upcoming seismic mapping program on Infinity's 1.4 million-acre oil and gas concessions in the Caribbean Sea offshore Nicaragua.

Mr. Fleming has over 38 years of experience involving a wide variety of geoscience assignments, most of which were with Sun Oil and its successor companies: Sunmark, Sun E&P, Oryx, Kerr-McGee and Anadarko.

"We are delighted that Mr. Fleming has agreed to join the Infinity team, where he will be responsible for our 3D and 2D seismic mapping program, which is expected to commence during the fourth quarter of 2013," stated Stanton E. Ross, Chief Executive Officer of Infinity Energy Resources, Inc. "Bob has a sound understanding of geological and geophysical principles, including seismic processing, modeling, potential fields and Amplitude Variation with Offset (AVO) analysis techniques, and how they can be effectively applied in the search for hydrocarbons. He has extensive experience in the generation and review of drilling prospects in many of the U.S. and overseas hydrocarbon basins. We believe his expertise should prove invaluable to Infinity's quest to further understand and evaluate the significant hydrocarbon resources that we believe underlie our Tyra and Perlas blocks offshore Nicaragua. Noble Energy and its partners are currently drilling their initial exploration well on Noble's 1.8 million-acre concessions immediately adjacent to, and east of, our concessions. As a result, we expect that the next few months should better define the geophysical characteristics of the subsurface prospects identified beneath the waters of this largely unexplored part of the Caribbean Sea."

For the past seven years (since November 2006), Mr. Fleming has been responsible for prospect identification and mapping, exploratory and water injection well site selection, seismic acquisition, processing QC, Vertical Seismic Profile (VSP) survey design, AVO analysis, prospect review, and gravity/magnetic processing and interpretation for a number of Texas-based E&P companies.

From March 2001 until October 2006, Mr. Fleming was a Geophysicist for Kerr-McGee Oil and Gas Onshore, LLC and Anadarko. He provided geophysical support to E&P teams in plays along the Texas Gulf Coast, in Louisiana, and in West Texas and New Mexico. From February 1999 through March 2001, as a Geophysicist with Kerr-McGee Oil and Gas, he generated and reviewed prospects for international exploration programs in Brazil and Ecuador, including coordinating the acquisition, processing and interpretation of several 3D surveys on Kerr-McGee's Brazil leasehold in the Santos Basin.

During the period September 1988 through February 1999, Mr. Fleming held a number of positions with Oryx Energy Company. From June 1997 through February 1999, he was Manager of Subsurface Imaging for Oryx, where he managed a team of geophysicists responsible for planning, conducting and controlling the quality of seismic processing; depth migration; seismic and gravity/magnetic modeling and interpretation projects; and the management of licensing and maintenance contracts involving Oryx's geoscience software and the sublicensing of its proprietary geophysical software. He also managed Oryx's participation in joint industry projects, university consortia and Department of Energy technology transfer initiatives. Mr. Fleming served as Manager, Reservoir Characterization Services, at Oryx from September 1996 to June 1997, where he led a team that provided reservoir characterizations and AVO analysis in the Gulf of Mexico and worldwide. Other positions that Mr. Fleming held at Oryx included Manager of Application Development and Exploitation (November 1991 to September 1996), Manager of Geophysics, Southeast District (November 1989 to November 1991), and Manager of Geophysics, Gulf of Mexico West District (September 1998 to November 1989).

Mr. Fleming earned his B.S. and M.S. degrees in Geological Sciences at Lehigh University in Bethlehem, Pennsylvania. He is licensed by the Texas Board of Professional Geophysicists and is a member of the Dallas Geophysical Society, the European Association of Geoscientists and Engineers, and the Society of Exploration Geophysicists.

About Infinity Energy Resources, Inc.

Infinity Energy Resources, Inc.'s operations consist of exploration and development activities associated with oil and gas concessions covering approximately 1.4 million acres offshore Nicaragua in the Caribbean Sea. The Company's concessions are located adjacent to Noble Energy's 1.8 million-acre offshore concessions. Noble commenced drilling an initial exploratory well on its Nicaraguan concessions in late August 2013 and has stated that it expects to announce the well test results within approximately 90 days.

Infinity is headquartered in Overland Park, Kansas and its common stock is currently traded on the OTCQB under the symbol "IFNY". The Company's financial statements and additional information are available on the Internet at www.sec.gov or www.ifnyoil.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Such forward-looking statements may include the words "believes," "expects," "anticipates," "intends," "estimates," "plans," "projections" or other expressions that are predictions of or indicate future events. A wide variety of factors that may cause the actual results to differ materially from these statements include, but are not limited to, the following: the Company's ability to raise sufficient capital and/or obtain a partner on acceptable terms, or at all, to pursue exploration and development activities regarding its Nicaraguan Concessions; whether it will be able to negotiate and enter into a definitive agreement on favorable or acceptable terms with a geophysical service company to conduct a seismic mapping program; whether it will be able to conduct such mapping program in the fourth quarter of 2013; whether Noble Energy's initial exploration well will help to better define the geophysical characteristics of the Company's Concessions; the success of its efforts to acquire and process seismic data relating to such Concessions; the quantity of hydrocarbons beneath the Concession blocks; the costs of drilling and completion of any wells; risks that drilling wells will not result in commercially viable oil and natural gas production; operating risks, delays and problems; the availability of services on acceptable terms; changes in the prices of oil and gas; unexpected negative geological variances; governmental uncertainties in Nicaragua; actions by creditors with respect to debt obligations, liquidity and capital requirements; competition from larger, more established companies with far greater economic and human resources; the effect of changing economic conditions; changes in U.S. government regulations, tax rates and similar matters; and other risks described in its Annual Report on Form 10-K for the year ended December 31, 2012 and its Quarterly Report on Form 10-Q for the six months ended June 30, 2013 filed with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • For additional information, please contact:
    Stanton E. Ross
    President/CEO
    (913) 948-9512