DEBARY, FL / ACCESSWIRE / June 26, 2015 / World
Oil Group, Inc. (OTC: WOGI) is pleased to announce the Company has
completed fracking 4 wells and has begun fracking the 5th well
yesterday. The Company has installed pump jacks on 4 of the wells
(wells 1, 2, 3, & 4) and began operating 3 of the wells (wells
1, 2, & 3).
WOGI would further like to introduce Grace Carlton to our
shareholders. Mrs. Carlton has assumed the role of Creative
Director for World Oil Group, Inc.
WOGI had some complications during the fracking process that was
set to begin on April 15th, 2015, and these complications have
delayed the output of oil from the wells.
Nathan Hall our CEO states, the delays have caused many concerns
in market, but explaining to our shareholder drilling in
Pennsylvania is not like drilling in other place(s) of the United
States such as Texas, Oklahoma, and Colorado or even in North
Dakota. The historical shallow shale oil drilling in Pennsylvania
versus the deep well shale and non-shale platforms in the
Western/Northern United States are very different.
Shallow Shale Oil Drilling in Pennsylvania is the birthplace of
Oil Drilling in the United States and has vast historical geology
in the entire Venango County of Strong Oil Finds. The entire county
has great oil saturation to the point oil seeps from the ground
without drilling. Therefore, when we drill an oil well and frack
the shallow well, its capillaries start to absorb from the entire
area and redirect to where the pumping is near.
Therefore, it becomes a greater ROI with a lower amount of cost
to drill wells in this region versus than other regions of the
United States, for almost the same amount of oil production. The
reason why more people are not drilling in this region is because
close groups of shallow well drillers have protected these areas to
preserve jobs for the locals. WOGI by and through our local
drilling partner supports the local drilling economy. Therefore, we
have greater opportunities than most for future drilling
projects.
The Company's shallow oil well projects are very conservative
and never have dry holes due to the geological and historical
report(s) we base our drilling programs on.
As mentioned before in previous press releases and restated in
this release, our geologist has shown strong oil reserves in the
Company's Oil Leases and the 10 Well Corse Oil Well Lease we are
currently fracking via nuclear well reports. The Company has had no
other issues other than the pipe thread failure, which has been
corrected. If additional issues arise from the batch of pipe that
was purchase, then we will inform our shareholders. The last batch
of pipe was returned at no additional charge to the company.
Hopefully, this clears up any questions or concerns anyone may
have.
We would refer our shareholders and potential shareholders to
follow the Companies videos it has posted on its Facebook and
YouTube channels to show the progress along the way. As you will
see in the progress update videos, there is a strong oil presence
in all 10 oil wells the Company has drilled and begun fracking.
Currently, we are slightly delayed considering the challenges we
have had with pipe thread failure on 2 wells, and having to bring
in work over rig in and fix the pipes. For those not familiar with
the Oil & Gas/Construction type industries, slight delays like
this are normal.
As for the continued fracking, we are trying to slow the
fracking process down in order to wait for the oil prices to rise.
The delays we have had have pushed by our timeline of oil coming
from the wells, but our fracking reports show a strong presence of
oil. The oil extraction from a fracked well relies on suction to
pull the oil from the capillaries after the frack. The longer it
takes to pull the oil is a sign of a good frack.
For example:
If you were to drain a well using a 10ft hose it would begin
draining very fast, but if you used a 200 foot hose for the same
well applying the same amount of suction it would take longer for
the well to drain as the suction needs to build, this is what we
are experiencing.
The Company has hired Grace Carlton as a contract advisor, her
job will be to assist WOGI with its sales and marketing, branding,
and shareholder relations. Mrs. Carlton beginning next week will
assume the responsibility of flowing information out to the
shareholders through all media channels including weekly press
releases, Twitter, Facebook, and maintaining the information on
website. With Mrs. Carlton's assistance the flow of information
will be consistent and allow the shareholder base to be kept
informed as events take place.
Below is a detailed video report on the condition of each well
and the delays each well have had. We stated on March 15, 2015 we
would begin fracking on April 15, which was delayed due to weather
and the actual fracking did not begin until the last week of April
as of this release the fracking process is in its 9th week
when you factor in other delays from pump jacks and pipe issues the
Company lost approximately 4 more weeks allowing only 5 actual
weeks for fracking. This video will give a complete update.
WOGI Video Update: WOGI Video Update of Wells 1,2,3,4&5
https://youtu.be/UwKg609Gaf4
About World Oil Group, Inc.
World Oil Group, Inc. (WOGI) is a petroleum company that has
traditionally focused on Oil & Gas Exploration in the
Pennsylvania markets by and through its wholly owned subsidiary EPA
Petroleum, Inc. First Quarter, WOGI is scaling up operations in the
MENA, Gulf and Central/South American regions in 2015, the company
will keep its shareholders updated.
EPA Petroleum, Inc. "EPA" is a wholly owned subsidiary of World
Oil Group, Inc. (WOGI). The Company is an independent producer of
crude oil and natural gas. EPA Petroleum is actively involved in
drilling activities within the Commonwealth of Pennsylvania.
World Oil Group, Inc. is now taking the path breaking challenge
to lead the world on its "Sustainable Oil & Gas Field Model"
implementing the concepts and related applications model in the
Petroleum Industry. WOGI is always seeking new opportunities in the
petroleum industry and will look to develop economic growth in the
areas it works. As WOGI enters into a market, it will seek to help
bring jobs within its foot print. World Oil Group's vision is to
grow exponentially with the Petroleum Industries using "The
Sustainable Oil & Gas Fields" concepts and applications for
E&P & EOR, and Energy Trading in the USA and around the
world.
The foregoing press announcement contains forward-looking
statements that can be identified by terminology such as,
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by, among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
For more information contact:
CONTACT:
Nathan Hall, President CEO
World Oil Group, Inc.
Ph. 407-777-9228
info@epapetroleum.com
www.WorldOilGroup.com
Twitter.com/epapetroleum
facebook.com/epapetroleum
http://smallcapvoice.com/blog/6-5-15-smallcapvoice-interview-with-world-oil-group-wogi/
http://thestockradio.com/otcpink-wogi-world-oil-group-inc-ceo-nathan-hall-1902.html
SOURCE: World Oil Group, Inc.