SOURCE: Start Scientific, Inc.

January 22, 2015 08:30 ET

Start Scientific, Inc. Signs Farmout Agreement With Durban Energy

SAN ANTONIO, TX--(Marketwired - Jan 22, 2015) - Start Scientific, Inc. (OTCQB: STSC) (the "Company") announced today that it has entered into a Farmout Agreement with Durban Energy, Inc., located in Jackson, Mississippi. The Company has until July 10, 2015 to commence drilling a new well on the farmout acreage. The Company will receive 100% of the net revenue until payout of all costs, at which time the Company will assign a 25% working interest to Durban and partners. There is a 30% royalty burden on the leases, which means that before payout the Company will have 70% of net revenue and after payout the Company will have 52.5% of net revenue and Durban will have 17.5% of net revenue. Each well will be treated separately for payout calculation.

The Fayette Field is located in Jefferson County, Mississippi, 6 miles northwest of the town of Fayette and 21 miles northeast of the city of Natchez. Humble Oil Company made the discovery in August of 1945 with the completion of the No. 1 M. R. Smith. This well was completed in the Lower Tuscaloosa Massive sand, and tested 229 BOPD of 40-degree gravity oil with 2,000 pounds of flowing tubing pressure. The well produced a total of 630,288 BO and 2.3 BCF of gas. The Massive sand is fine grained, ashy and micaceous. Permeability in this sand is as much as 460 millidarcies and porosity averages 28%. The Fayette structure is a simple anticline and covers about 2,500 acres.

Chief Executive Officer Norris R. Harris stated, "The Fayette Field is one of several projects in Mississippi which we can acquire with low front-end costs because of our relationships there. With lower oil prices we must find opportunities to attract financial partners who are escaping low-return shale drilling programs which are not economical at less than $60 oil."

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 outside 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.

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Forward-Looking Statements

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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