Lexington Resources, Inc.
LEXINGTON RESOURCES PREPARES DRILLING SITE FOR NEXT BARNETT SHALE WELL
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 5. Mai 2006
LEXINGTON RESOURCES PREPARES DRILLING SITE FOR NEXT BARNETT SHALE WELL
AND COMPLETES PARADISE PARK #1H DRILLING
Las Vegas, Nevada – May 5, 2006/PRNewswire-Firstcall/ — Lexington
Resources, Inc.’s (OTCBB: LXRS, Frankfurt, Berlin: LXR) (the “Company”),
wholly owned drilling company, Oak Hills Drilling and Operating, LLC has
completed drilling the Paradise Park #1H horizontal Barnett Shale gas well
on third-party contract for Ray Richey Management Company, Inc. Lexington
receives a 10% working interest in the Paradise Park #1H well that will now
be scheduled for fracture and completion. The well had a completed total
drilled depth of approximately 9,700 feet. The Paradise Park #1H horizontal
gas well offsets the HHV Land #1H Barnett Shale horizontal gas well drilled
by Oak Hills as third-party drilling contractor in April 2005. The HHV Land
#1H had initial production gas flows of approximately 3.6 MMCF/day and was
the first well drilled by Oak Hills in the Barnett Shale after its rig was
rebuilt in the winter of 2004.
The Oak Hills drilling rig is scheduled to be moved next week to the
Company’s Martin Cantrell Lease located in Parker County, Texas and is
currently undergoing routine maintenance and repair. The Company is
carrying out drill site preparation, road access, and permitting for the
new Barnett Shale horizontal well on the Company’s Martin Cantrell lease.
Lexington owns a 100% working interest and 72.5% net revenue interest in
this well. The Company has obtained seismic data from Devon Energy that was
required to identify possible faulting in the area of the lease to minimize
drilling risk and for engineering of the new horizontal well bore.
Lexington has seven well interests under concurrent development as
described in the following table.
Name der Quelle Working Art der Gas Standort
Interest Quelle
Oliver Unit #1H 100% Horizontal Barnett Tarrant
Shale County,
Texas
To be announced 100% Horizontal Barnett Parker
Shale County,
TX
Paradise Park #1H 10% Horizontal Barnett Johnson
Shale County,
Texas
Peyton 1-25 50% Vertikal CBM Hughes
County,
Oklahoma
Dylan 1-24H 50% Horizontal CBM Hughes
County,
Oklahoma
Nicole 1-23H 50% Horizontal CBM Hughes
County,
Oklahoma
Gates 1-19 5,63% Horizontal CBM McIntosh
County,
Oklahoma
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 S
(c)DGAP 05.05.2006
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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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