Worldwide Energies Inc.
Worldwide Energies Inc.: The frac job of the Koon Prospect-Well increased the flow rates threefold / The Koon Prospect Well is one of the most significant discoveries in the Black Warrior Basin in the last 20 years
Worldwide Energies Inc. / Miscellaneous 22.01.2010 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 Energies Inc. is pleased to announce that the frac of the lower Fayette Sand has been completed successfully. Hydraulic fracturing is a common oil and gas well stimulation practice used to break up and prop the subsurface hydrocarbon bearing rock layers to enhance the release of oil and/or gas into the well bore. Testing of the lower Fayette Sand after frac stimulation indicates this interval is capable of producing 1,300,000 cubic feet of gas per day. This rate is a threefold increase over the rate of 400,000 cubic feet per day measured before the frac treatment. Flowing wellhead pressure during the after frac testing was 890 psi on a ¼' choke. Thus the Koon Prospect will be one of the most significant discoveries from the Black Warrior Basin in the last 20 years. These results are from the lower of the four potential pay sands in the well. Management and the technical staff involved expect testing of the upper Fayette Sand to result in similar or higher flow rates. Fracturing of the upper Fayette Sand is expected within the next three weeks. At the conclusion of test from the upper Fayette work will begin on hooking up the well to one of the nearby gas pipelines to initiate gas sales from the prospect. Gas sales are projected to begin during April 2010. The work on the prospect can be seen in the Internet at www.youtube.com. The keyword 'koonprospect' leads to the preparation of the well side and the drilling. The trailers under 'koonprospectB' will show an impression of the above mentioned frac job. About Worldwide Energies, Inc.: Worldwide Energies, Inc. was founded in 2004 as an independent investment company focusing on oil- and gas-exploration. The company's core business is the acquisition, development and exploitation of oil and gas fields in the US with its well-developed infrastructure, close-by sales markets and stable social and political structures. Worldwide Energies, Inc. mainly invests in already existing oil- and gas-exploration-projects or projects that can be realized rapidly and especially in innovative technologies with a wide application spectrum. The company's particularly low internal cost is due to lean internal processes and the exploitation of value adding potentials right at source. Worldwide Energies, Inc. spreads its entrepreneurial risk by investing in a well balanced risk-portfolio in projects in various development stages, including risky new exploration projects, the so-called 'wildcat-projects', the reactivation of known wells, the so-called 're-entry' with medium risk profile and also in low-risky already producing wells. Disclaimer / Forward-Looking Statements: This notice is only of general nature and not meant as a tender to subscribe for or sell shares of Worldwide Energies, Inc.. This notice contains forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections and currently available information. They are not guarantees of future performance. The statements contained herein which are not historical are forward-looking statements that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, certain delays beyond the company's control with respect to commencement of the exploration and production, risks and uncertainties relating to foreign currency fluctuations; risks inherent in exploration including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of resources and reserves and the geology, grade and continuity of deposits; the possibility that future exploration, development or exploration or production results will not be consistent with the companies' expectations; the inability or failure to obtain adequate financing on a timely basis, the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Dover, January 22nd, 2010 Worldwide Energies, Inc. 22.01.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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