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PRZOOM - /newswire/ -
Dallas, TX, United States, 2005/04/27 - Heartland Oil and Gas Corp. (OTCBB: HOGC) ("the Company") is continuing to focus its efforts on the Lancaster pilot project, located to the south near Ottawa, Kansas.
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Heartland Oil and Gas Corp. (OTCBB: HOGC) ("the Company") is continuing to focus its efforts on the Lancaster pilot project, located to the south near Ottawa, Kansas. Management has been successful in cutting costs and improving the per well performance from when it had first acquired approximately 750,000 acres of CBM leases from Evergreen in October, 2004. Changes in the completion programs implemented by Heartland over the past 5 months at Lancaster have increased production from an average of 3 to 5 mcfpd to 15 to 20 mcfpd and reduced costs by some 40% per well.
Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the prospective nature of the Company's Coal Bed Methane assets as described above and specifically the Lancaster pilot project, Heartland's drilling and completion of its ongoing Coal Bed Methane drilling program, the costs associated therewith and any potential future production from the Company's Lancaster pilot project.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with oil and gas exploration and unforeseen difficulties which may arise during the Company's drilling and de-watering efforts noted herein. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2004 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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