Lexington Resources, Inc.
LEXINGTON RESOURCES COMPLETES DRILLING PORTION OF OLIVER UNIT #1 BARNETT SHALE WELL IN TARRANT COUNTY, TEXAS
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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LEXINGTON RESOURCES, INC. OTCBB Symbol – LXRS,
Frankfurt/Berlin Symbol – LXR,
WKN: AØBKLP, ISN: US5295611Ø25,
Las Vegas, Nevada March 22, 2006
LEXINGTON RESOURCES COMPLETES DRILLING PORTION OF OLIVER UNIT #1
BARNETT SHALE WELL IN TARRANT COUNTY, TEXAS
Las Vegas, Nevada – March 22, 2006/PRNewswire-Firstcall/ — Lexington
Resources, Inc. (OTCBB: LXRS, Frankfurt, Berlin: LXR) (the “Company”),
provides a further update of drilling activity currently in process on its
Oliver Lease located in Fort Worth, Tarrant County, Texas.
The Company’s wholly owned drilling and operating subsidiary, Oak Hills
Drilling and Operating, LLC, has completed the drilling portion of its
Oliver Unit #1H Well. The 2,300-foot horizontal section of the well is now
completed, with a total depth of 9,300 feet. Additionally, production
casing has been installed and cemented in place. With this portion of the
well completed, the Oak Hills drilling rig is undergoing routine
maintenance and demobilization from the well site. Well fracturing required
to stimulate the Barnett Shale gas bearing rock in order to begin gas
production is being scheduled either for month end or an alternative
opening in April.
The Company also reports that the pipeline to tie the Oliver Unit #1H Well
into a gas marketing line in the area is in process to be permitted and
subsequently constructed. Further, the Company is securing contracts for
metering, compression, gas dehydration and treatment, transportation, as
well as gas marketing. The Company’s well will tie-in to an existing gas
pipeline that crosses the Company’s lease leading to gas processing and
marketing.
The Oliver lease was acquired by the Company with a 100% working interest
and a 70% net revenue interest in the 312 acres obtained. The Barnett Shale
gas target is estimated by management to be approximately 350 to 375 feet
thick, according to offsetting wells drilled by Encana Oil & Gas Inc., and
XTO Energy, Inc.
About Lexington Resources, Inc.: Lexington Resources, Inc. is a junior
integrated natural resource exploration company engaged in the acquisition
and development of oil and natural gas properties in the United States. Its
current operational focus is on gas development initiatives in the Arkoma
Basin, Oklahoma and the Dallas Fort Worth Basin in Texas. For further
information see: www.lexingtonresources.com
Contact North America: Investor Relations, Lexington Resources, Inc.
Phone: Toll Free (888) 848-7377 or (702) 382-5139 Fax: (702) 385-1202
e-mail: info@lexingtonresources.com
Contact Europe: International Market Trend AG
Phone: 41 43 888 67 00 Fax: 41 43 888 67 09
Stock Exchange Information: Symbol: OTCBB – LXRS
Frankfurt/Berlin Symbol – LXR, WKN: AØBKLP, ISN: US5295611Ø25
SAFE HARBOR STATEMENT
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”, AS THAT TERM IS
DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF
1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY
HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS
REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED
IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO
CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED
OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS,
INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE
SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR
SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES
FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH
PROPERTY DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN IN THE
COMPANY’S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND
FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE
COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL
PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE
COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT
ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S DEVELOPMENT
EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL
SUCCESS. 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 THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND
INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO
ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE
ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN
AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S
PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES
FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE
OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS
RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE
SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE
WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE
SECURITIES LAWS OF ANY SUCH JURISDICTION.
(c)DGAP 22.03.2006
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language: English
emitter: Lexington Resources, Inc.
7473 West Lake Mead Road
89128 Las Vegas, Nevada Vereinigte Staaten von Amerika
phone: +1 604 602 1125
fax: +1 604 608 3399
email: grant@grantatkins.de
WWW: www.lexingtonresources.com
ISIN: US5295611025
WKN: A0BKLP
indexes:
stockmarkets: Freiverkehr in Berlin-Bremen; Open Market in Frankfurt
End of News DGAP News-Service
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