Lexington Resources, Inc.
LEXINGTON RESOURCES BEGINS DRILLING TWO FURTHER HORIZONTAL CBM WELLS ON SOUTH LAMAR LEASE IN HUGHES COUNTY, OK
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,
LEXINGTON RESOURCES BEGINS DRILLING TWO FURTHER HORIZONTAL CBM WELLS
ON SOUTH LAMAR LEASE IN HUGHES COUNTY, OK, BRINGING TOTAL INTERESTS IN
WELLS UNDER CURRENT DRILLING AND DEVELOPMENT TO SIX
Las Vegas, Nevada – April 25, 2006/PRNewswire-Firstcall/ — Lexington
Resources, Inc. (OTCBB: LXRS, Frankfurt, Berlin: LXR) (the “Company”), and
its Arkoma Basin exploration partner Dylan Peyton, LLC have spudded two
further Coal Bed Methane (“CBM”) gas-targeted horizontal wells in the State
of Oklahoma. The Dylan 1-24H and Nicole 1-23H horizontal CBM wells are in
addition to the Peyton 1-25 vertical CBM well currently in drilling and
development on the Company’s South Lamar lease.
The CBM gas target zones on the two new wells are estimated to be
approximately 2,800 feet deep, while shallow gas producing sands in the
area that may be encountered are estimated to be in the 1,000 to 2,000 foot
depth range.
Under the joint exploration agreement between the Company and Dylan Peyton,
LLC, Lexington Resources contributes its current inventory of Arkoma Basin,
Oklahoma CBM leases while Dylan Peyton, LLC contributes drilling rigs in
order to jointly develop gas-producing wells on a 50/50 equal working
interest basis. The Company’s operating subsidiary, Oak Hills Drilling and
Operating, LLC is utilized for well completion and service, in addition to
geological and engineering work associated with the joint exploration.
The new wells bring the total well interests under concurrent development
to a total of six as described in the following table. The Company intends
to start further drilling on the Company’s 100% working interest Barnett
Shale leases in the next 30 days as seismic data helps guide final drilling
plans and well locations.
Well Name Working Well Type Gas Location
Interest Target
Oliver Unit #1H 100% Horizont Barnett Tarrant
al Shale County,
TX
Paradise Park #1H 10% Horizont Barnett Johnson
al Shale County,
TX
Peyton 1-25 50% Vertical CBM Hughes
County,
OK
Dylan 1-24H 50% Horizont CBM Hughes
al County,
OK
Nicole 1-23H 50% Horizont CBM Hughes
al County,
OK
Gates 1-19 5.63% Horizont CBM McIntosh
al County,
OK
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
Germany: Toll Free Hot Line 0800 0000754
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 25.04.2006
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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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