SOURCE: Savoy Energy Corporation

Savoy Energy Corporation

November 02, 2009 07:00 ET

Savoy Energy Corp. Installs Technology Upgrade for Rozella Kifer

Savoy Energy Corp. Installs Technology Upgrade for Rozella Kifer to Increase Efficiency and Reduce Costs

HOUSTON, TX--(Marketwire - November 2, 2009) - Savoy Energy Corporation (OTCBB: SNVP) announced today that the company has successfully installed the Jack Shaft Reducer on its Rozella Kifer Well. The Jack Shaft Reducer is expected to both increase efficiency and decrease maintenance costs which will in turn extend the life of the well's production.

The Rozella Kifer Well sits on 193 acres of land in Gonzales County, Texas. The oil reserves for the well are estimated at 19,730 Mbbl while the gas reserves are an estimated 3,090 MMcf.

"With the Rozella Kifer already operating on electricity it is the perfect well to install and monitor the results of the Jack Shaft Reducer. I am pleased to see that the speed of the electric motor and the stress on the rods have both been reduced. This will have a direct effect on the operating costs for this well. We learned much during this installation that will enhance future installations of Jack Shaft Reducers. In keeping with our focus of protecting the environment through less emissions and keeping oil off the ground and in the tanks I look forward to continuing this phase of upgrades to be installed on our other existing and future wells," stated Art Bertagnolli, CEO of Savoy Energy Corporation.

About Savoy Energy Corporation

Savoy Energy Corporation (OTCBB: SNVP) is an independent oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company is focused on identifying abandoned oil and gas assets, which are then brought online through recompletion and work-over activities, a meticulous process of evaluation, application of modern well technology, and stringent management controls. This process allows the company to increase its asset base and cash flow, while significantly reducing the cost of initial drilling, and takes away the risk of traditional exploration projects. Savoy Energy's financial structure allows it to minimize the high overhead of traditional E&P companies. (www.savoyenergycorp.com)

Forward-Looking Statement: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.

Contact Information