SOURCE: Start Scientific, Inc.

January 06, 2015 08:30 ET

Start Scientific, Inc. Signs Farmout Agreement for Flora Field, Madison County, Mississippi

SAN ANTONIO, TX--(Marketwired - Jan 6, 2015) - Start Scientific, Inc. (OTCQB: STSC) (the "Company"), announced today that it has entered into a Farmout Agreement with BPS Operating Services LLC, located in Jackson, Mississippi. The Company has until April 1, 2015 to tender $500,000 for the first well to be drilled. The production interest includes 40 acres around the new well and the Company will earn a 75% working interest before payout, and a 60% working interest after payout. All of the production facilities, salt water disposal systems, and 33 well bores are in place. The Company may drill additional wells for $400,000 per well within 60 days of completion of each previously drilled well completion. A copy of the Farmout Agreement will be available online via the Company's public filings at www.sec.gov on Form 8-K.

The Flora Field in the Madison County of Mississippi was discovered in 1943 and has since then produced more than 7,650,000 barrels of oil from the Selma Rock Gas Formation in the Anderson Sand. Known for its very high permeability, the Anderson Sand has porosity ranging from 20% to 26%. Recent wells drilled by Jordan Exploration, Inc. in 1997 demonstrate that there is still oil to be recovered in the Anderson Sand as well as significant potential in the Chalk formation.

Chief Executive Officer Norris R. Harris stated, "We believe the Flora Field is an economical drilling site with the possibility of good revenue for the Company. In this environment of lower oil prices, we must drill, explore, and extract oil at the right operational costs. We anticipate that the Flora Field and partnering with BPS Operating Services will provide this opportunity for us."

"Our plan is to re-enter and complete the 33 old wells, as well as drill horizontal holes on the top of the structure and testing two zones," added Mr. Harris. "We expect the results may justify redeveloping the field with horizontal wells."

About Start Scientific, Inc.

Start Scientific, Inc. is a development-stage oil and gas development, exploration, drilling, and extraction company. Our long-term focus is to grow and develop existing oil and gas leasehold interests and acquire new interests within and without the continental United States. In addition, we intend to acquire interests in older wells that, with the application of newer technologies, may increase production and reserves.

For more information, visit www.startscientificoil.com

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.

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