Lexington Resources, Inc.
Lexington Resources, Inc.: LEXINGTON RESOURCES COMPLETES FRAC OF BARNETT SHALE WELL IN TARRANT COUNTY, TX; CONCURRENT CBM DRILLING IN PROGRESS 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 COMPLETES FRAC OF BARNETT SHALE WELL IN TARRANT COUNTY,
TX; CONCURRENT CBM DRILLING IN PROGRESS IN HUGHES COUNTY, OK
Las Vegas, Nevada – April 19, 2006/PRNewswire-Firstcall/ — Lexington
Resources, Inc. (OTCBB: LXRS, Frankfurt, Berlin: LXR) (the “Company”),
announces that it is nearing completion of two new wells located in Texas
and Oklahoma.
The Company continues its production and completion efforts on the Oliver
Unit #1H horizontal Barnett Shale well in Tarrant County, Texas. The
Company has conducted both perforation and fracture stimulation (“frac”) of
the Barnett Shale production zone, as the well continues through completion
stages. The three-stage frac was conducted by Frac Tech Services, LLC to
stimulate gas production for marketed gas flows.
The frac fluid that was pumped into the well at high pressure will now be
flowed back over the next 2-3 weeks to allow final well completion and hook
up to a pipeline for gas sales. A work over rig is scheduled to aid in the
flow back of fluid in the well.
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.
The Company is concurrently drilling a Coal Bed Methane “CBM” gas well on
its South Lamar lease in Oklahoma. The Peyton 1-25 vertical CBM well on the
Company’s South Lamar lease in Hughes County, OK is encountering shallow
gas zones on its path to the targeted Hartshorne Coal zone estimated to be
approximately 2,800 feet deep. The shallow gas zones are being analyzed for
production potential. Lexington Resources and Dylan Peyton, LLC, are
participating on a 50/50 equal working interest basis on this well as part
of their joint exploration operations in the Arkoma Basin in the State of
Oklahoma.
Company President, Grant Atkins commented, “After taking the time to
acquire high quality lease inventories in both Oklahoma and Texas, we have
subsequently established vertically integrated operations through our
subsidiary oil and gas operator, Oak Hills Drilling and Operating, LLC. We
are now drilling and completing wells on our own schedule using our own
quality control. Lexington Resources is entering a new stage of growth
where all that has been put into place provides the basis for rapid
increases in production, sales, 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
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
Toll Free Hot Line Germany: 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 19.04.2006
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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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