Sharon Energy Ltd.

Sharon Energy Ltd.

November 07, 2006 18:06 ET

Sharon Announces Jaslan, Alberta Natural Gas Project Completed

CALGARY, ALBERTA--(CCNMatthews - Nov. 7, 2006) - Sharon Energy Ltd. (TSX VENTURE:SHY) is pleased to report the Jaslan, Alberta natural gas project, which included installation of a compressor station and 10 kilometers of pipeline connecting five gas wells, has been completed and production commenced November 3, 2006.

The project will add an incremental 600 Mcfd (100 BOEd) net production to the Company.

Sharon has additional lands in the area and has plans for further drilling in 2007.

Sharon Energy Ltd. is a junior oil and gas company currently conducting active natural gas exploration programs in Texas, Alberta and Saskatchewan. Sharon is currently focused on exploring for natural gas in Alberta and deep Wilcox gas in Texas.

Forward-looking statements - the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Sharon Energy Ltd. - Houston, Texas
    H.C. (Kip) Ferguson, III
    (713) 789-5395
    (713) 789-8454 (FAX)
    Sharon Energy Ltd. - Calgary, Alberta
    Robert W. Lamond
    (403) 269-9889
    (403) 269-9890 (FAX)