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Published in Stocks and Investing on Thursday, March 19th 2009 at 16:08 GMT, Last Modified on 2009-03-19 16:09:41 by Market Wire
NOWATA COUNTY, OKLAHOMA--(Marketwire - March 19, 2009) - Endeavor Power Corp. (OTCBB:EDVP) now has five producing oil wells on its Patrick Henry Lease, located in northeast Oklahoma. The combined flow rate for these five wells is currently in excess of 100 barrels of fluid per day, with an ever increasing oil cut. An immediate increase in this daily oil production is expected upon Endeavor's pending activation of its saltwater injection system along with an acid frac process planned for each well. Additional production increases are imminent as the company plans on completing 2 more active wells on this lease before the end of March. Joint venture partner, Federated Energy, has stated: "Our work is progressing as expected and we plan on having all of our wells on this lease active by late spring this year, and anticipate moving on to our next lease with Endeavor shortly thereafter."
Endeavor Power's CEO, Brandon Toth, is very confident that the company can continue to expand oil production from the Patrick Henry Lease. "We have now had the opportunity to test all fourteen wells included in this project and all wells show a column of oil at or near the casing surface."
For additional information, please visit [ www.endeavorpowercorp.com ].
About Endeavor Power Corp.
Endeavor Power Corp. is an independent, energy company engaged in the acquisition, exploitation and development of oil and natural gas properties in the United States. Endeavor's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. Endeavor also aims to define larger projects that can be developed with Joint Venture partners.
Legal Notice Regarding Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
