Press Release Source: Silver Star Energy, Inc.
North Franklin Pipeline Tie-In Finished -- Gas Production From "Archer-Whitney #1" Well Can Now Begin
Friday March 18, 9:00 am ET
LOS ANGELES, CA--(MARKET WIRE)--Mar 18, 2005 -- Silver Star Energy, Inc. (OTC BB:SVSE.OB - News) is pleased to report that the pipeline at the North Franklin Project has been finished. The "Archer-Whitney #1" gas well has now been tied-in and will be put online.
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A gas sales contract is in place with a natural gas purchaser. Once official production begins, the gas well will be evaluated as to I.P.R.s (Initial Production Rates). Flow rates will now be established by the performance of the well and response of the reservoir. The Company has always expected excellent deliverability from the well and is optimistic that ultimately, gas flow rates will be similar to area analog gas fields and that 5,000 mcf/day is a realistic flow rate target.
Robert McIntosh, President of Silver Star stated, "The completion of the pipeline at North Franklin is a milestone for the Company. After undergoing lengthy delays, the 'Archer-Whitney #1' well can now be put online at a time when energy prices are soaring due to increased demand. Now, Silver Star can focus on the development of the gas field in the upcoming months by drilling more wells and increasing cash flow to the company."
Today's gas price based on PG&E-Citygate pricing is $7.09 mcf.
ABOUT SILVER STAR ENERGY, INC.
The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high quality, low risk prospects provided via key strategic alliance partnerships.
Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Silver Star Energy, Inc. has little or no control.
ON BEHALF OF THE BOARD
Silver Star Energy.
"Robert McIntosh"
Robert McIntosh-President
To find out more about Silver Star Energy, Inc. (OTC BB:SVSE.OB - News), visit our website at
www.silverstarenergy.com.
Contact:
Contact:
1-888-803-SVSE (7873)
Silver Star Energy, Inc.
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Source: Silver Star Energy, Inc.
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