SOURCE: USA Superior Energy Holdings

April 18, 2008 14:40 ET

USA Superior Announces Bateman Field Production of Approximately 1,000 BOC in the First Half of April

HOUSTON, TX--(Marketwire - April 18, 2008) - USA Superior Energy Holdings, Inc. (OTCBB: USSU) (USSU), a Houston based energy company ("Company") focused on shallow well acquisition, rework, enhanced recovering (EOR) and drilling of existing proven fields that have been idle or marginally producing, announced the company has 88 producing and shut-in wells on approximately 1,200 acres on which the company has now commenced a two phase productivity improvement program. The first phase, known as the renovation (restoration repair) phase, has been completed on the 88 wells. Mr. Roland Carey, Chairman and CEO, stated, "The wells that have been reworked and refurbished are generating an average of more than 1 to 1 1/2 barrels per day as compared to the 1/2 barrels per day average produced prior to reworking and being refurbished. As this work has begun in the first quarter, continued improvement has occurred on production and we will continue to work to optimize these wells over time "

Mr. Carey further stated, "Previously, we had given guidance that we felt we could produce up to 1,500 BOC during the month of April. During the first 15 days of April we produced and sold approximately 1,000 BOC at $94.59 for Net Revenues of $72,786.65. Despite the slower production in the last half, with the production in the first half of April, we believe production will reach approximately 1,400 - 1,500 BOC during the month of April as previously stated. We are delighted that our success in the start up of Bateman is exceeding our expectations. We will continue to finish the planning to execute a more rapid program in the Bateman field for the balance of 2008."

As a result of this success, the Company fully intends to accelerate all of its rework and drilling programs in the Bateman Field during the remainder of the year. The Bateman Field is in Caldwell and Bastrop Counties in Texas, has 88 wells on 1,200 contiguous acres. The Company's core focus is prospects with a shallow field depth of 2,600 feet. The Company has planned on approximately 1,500 barrels of production during the next few months. The increased production in April may not be consistent with previous months' output. Production will be rising as we complete the reworking and stimulating the existing wells and commence drilling on the balance of the field. When full production occurs on our Bateman acreage, we will have approximately 111 producing wells.

For more information, please visit www.usa-superior.com

ABOUT USA SUPERIOR ENERGY HOLDINGS, INC.

USA Superior Energy Holdings, Inc. (the "Company") operates in the energy industry, focusing on acquiring and joint venturing working interest in existing old proven fields of shallow well oil and gas from approximately 300 feet to 6,000 feet in the state of Texas. The Company provides complete workover services of these existing wells with today's technology to restart production or substantially increase production. It applies its current leading edge workover and shallow well drilling in the acquired or joint ventured fields including operational efforts with new technologies, Nitrogen (N2) and specialized shallow well Cased Hole Horizontal Drilling (CHHD), to increase volume and production in its oil and gas. Specifically, the Company is involved in the developing, owning and operating of prospects and energy projects in Texas and currently has project fields in East and Southeast Texas.

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our recent current reports on Form 8-K, our annual report on Form 10-KSB, our quarterly reports on Form 10-QSB and other periodic and current reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information

  • Contact Information
    Samuel M. Chase Jr.
    Capital Markets Department
    770-335-0481