Lexington Resources, Inc.
Lexington Resources, Inc.Announces One Point Flow Testing From Martin #1H Horizontal Barnett Shale Well in Parker County, TX
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 Announces One Point Flow Testing From Martin #1H
Horizontal Barnett Shale Well in Parker County, TX
Aug 24, 2006 1:04:00 PM
LAS VEGAS, Aug. 24 /PRNewswire-FirstCall/ — Lexington Resources, Inc.’s
(OTC Bulletin Board: LXRS, Frankfurt, Berlin: LXR) (the ‘Company’),
announces that following from fracture stimulation (‘frac’) of the Martin
#1H well that was conducted earlier this month, completion of the well is
in final stages. The well was tested by management and obtained flow rates
of 3.3 MMCF/Day on a one point flow test. The well continues to flow back
frac fluid and is currently choked back pending final well clean up and
connection into a Devon gas line. All surface equipment and pipeline have
been installed except for portions relating to the tie in to the production
and marketing gas line.
The Company purchased a 100% working interest and a 72.5% net revenue
interest in the Martin Cantrell prospect. The expected production from the
Martin #1H well represents the Company’s first meaningful well completion
in the Barnett Shale and proves the Company’s in-house ability to increase
gas production and reserves.
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
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.
Contact: North America, Investor Relations of Lexington Resources, Inc.,
888-848-7377, or +1-702-382-5139, or fax, +1-702-385-1202, or
info@lexingtonresources.com; or Europe, International Market Trend AG,
+41-43-888-67-00, or fax, +41-43-888-67-09.
SOURCE Lexington Resources, Inc.
(c)DGAP 28.08.2006
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