Worldwide Energies Inc.
Worldwide Energies Inc.: Worldwide Koon Hickman 21 to No. 7
Worldwide Energies Inc. / Miscellaneous 19.08.2010 16:04 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Worldwide Koon Hickman 21 to No. 7 With great pleasure, the Management is pleased to announce the completion of the first phase in relation to the commissioning of the SDR 11 HDPE polyethylene gas pipeline to the Worldwide-Koon-Hickman 21-7 No. 1, Benton, and Fayette sand respectively. The pipeline extends over 18 '000 feet (5486 meters) and has a daily transport capacity of 8 million cubic feet of gas. On August 10th, 2010 at 17PM local time, streamed the precious commodity of Worldwide Energy Incorporation, through the 6 inch Polyethylene pipeline, which culminates many years of substantial efforts and secures indefinite years of great success for our shareholders. The All Receiving Station of South Cross Energy, Inc. in Gordo, Alabama took the first flows into their distribution systems, and recorded the entrance. The base has been created some time ago by the signing of the so-called 'Land and Gas Sale Contract' by our operator, Land and Natural Resource Development Incorporation, Northport, Alabama. During the subsequent days, the results received were highly satisfactory and continuous with the exception of planned interim short breaks. The interim breaks were based on establishing the load of the new equipment in a continuous working process in which the compressor is driven to its capacity, in an effort to recognize the resilience. These interruptions are planned and necessary to establish confirmation of base line technical requirements for the authorities. As outlined in a letter dated 10th of August 2010, by the State Oil and Gas Board of Alabama, the Management has commissioned the implementation of the Second Phase. This will include a test phase of thirty days beginning immediately. The implementation of this test phase marks another great success for the engineers and geologists of Worldwide Energies Incorporation. There will be a 30 day temporary allowable flow of one million cubic feet per entry in the zone which represents the maximum residue limit. After this initial test phase is completed and deemed satisfactory by all institutions and authorities, the agreed daily flow will be 2.4 million by 2.6 million cubic feet per day. Following the 30- day initial flow period, the well will be shut for a maximum period of 72 hours and a bottom- whole pressure will be taken. A capacity test will be run for each zone and the results thereof shall be submitted on Form OGB-22 conducted for each zone. At the end of this phase the management does not see any further interruptions. Parallel to this, the Engineers and Geologists of Worldwide Energies Inc. are in preparation for a re-entry in a slightly higher layer on the same zone. The resulting expected additional quantities of the overlying camp will also be transported through the pipeline to the collection and sold. Given Thorough analysis there is over capacity of the pipeline at this point of time and by utilitizing the parallel site, it allows for greater optimization of the transport values. Already from the news coverage and the analysis of the various specialists highlighting the substantial developments over the last few days, it has resulted in share appreciation of more than 50% within the last two weeks. There has already been press coverage which has confirmed that this site is one of the largest explorations discovered in the United States within the last two decades. Additionally, the Management is extremely pleased to confirm that they have decided to strategically optimize the management structure creating long term sustainability and value for the shareholders of Worldwide Energies Inc. They have agreed a collaborative relationship with an exclusive International Finance Group which will allow Management much more flexibility in securing future medium and long term strategic opportunities as and when they become available. The detailed procedure on this will be issued in writing to the shareholders shortly. In closing, it is with great satisfaction and a touch of humble pride, that We, the Management bring this report forward to you our shareholders. We extend our thanks to you for your commitment and trust which enabled the Company to realize this point and we join with you in great anticipation of an exceptional future together. 19.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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