VANCOUVER, WA -- (Marketwire) -- 11/03/09 -- Green Star Energies, Inc. (PINKSHEETS: GSRE)
is pleased to provide an update on the operations at Eberle #1 Well in
Bastrop County, Texas. After reopening the well, the pressure gauge read
approx. 1200 psi at the well head after giving it a period of time to
confirm the steady pressure.
The operator reopened the well to prepare rods and drilling equipment but
was met with overwhelming pressure which forced the operator to flare (or
burn) the natural gas and produce oil at this level due to significant
pressure of both oil and gas. While the focus of the current zone has been
gas recovery, the level of existing oil production has been overlooked. In
order to produce the oil, the gas must be distributed or burned off which
is why we originally wanted to connect the gas line before we started oil
production to be able to capitalize on proceeds from both.
Initial showings have indicated better than expected production of oil.
This has lead us to consider production immediately until pressure slows
and new geological information is evaluated. As is standard with all oil
and gas operations we won't know exactly how good the pressure will hold up
until we have continuous production for a consistent period. The
fracturing has clearly done its job, possibly allowing for strong
production without the full drilling requirements to enter the lower zone
at this time. There is news coming back from the field daily and
management is preparing the release of more information as it is organized
and made available over the next couple days.
"I am extremely pleased with the progress made thus far at the Eberle #1
site and look forward to hearing updates first hand as new information and
further development shapes our results in the coming days. I had the
pleasure of taking a member of our Stockholder Committee onsite last week
and welcome the interest anyone else might have to visit," stated
President/CEO Brandon Toth.
The latest pictures posted 11-02-09 and all new photos will be added to the
website through this link:
http://www.greenstarenergies.com/eberle_photos.html
ABOUT GREEN STAR ENERGIES, INC.
Green Star is an energy company with interests in oil and gas development
and production. Green Star follows an aggressive business model, focusing
on redevelopment of oil and gas fields with a history of production, and
also, exploration of green projects and businesses such as biodiesel and
wind power. Please visit our brand new website:
http://www.GreenStarEnergies.com
Certain information included in this communication (as well as information
included in oral statements or other written statements made or to be made
by Green Star Energies, Inc.) contains statements that are forward-looking,
such as statements relating to the future anticipated direction of the Oil
and Gas Industry, plans for expansion, various business development
activities, planned capital expenditures, future funding resources,
anticipated sales growth and potential contracts. These forward-looking
statements are subject to a number of known and unknown risks and
uncertainties that could cause actual operations or results to differ
materially from those anticipated. Please read the full disclaimer here:
http://www.GreenStarEnergies.com/disclaimer.
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Contact:
Green Star Energies, Inc.
Brandon Toth
President/CEO
Contact: 1-360-977-6820
Email: Email Contact