PetroQuest Resources, Inc. Announces Acquisition of 82 Miles of Natural Gas Gathering System
PetroQuest Resources, Inc. (Computer Pink Sheets: PQRJ.PK), announced today that Tyr Energy, Inc. (“Tyr Energy”), one of its wholly owned subsidiaries, acquired approximately 82 miles of natural gas pipeline, gathering, transportation system, rights of way, and meter site sales points situated in Vinton County, Ohio in late May 2006, and such acquisition was recorded in the Vinton County, Ohio Deed Records on June 22, 2006.
Arlington, TX (PRWEB) August 2, 2006 -- PetroQuest Resources, Inc. (Computer Pink Sheets: PQRJ.PK), announced today that Tyr Energy, Inc. (“Tyr Energy”), one of its wholly owned subsidiaries, acquired approximately 82 miles of natural gas pipeline, gathering, transportation system, rights of way, and meter site sales points situated in Vinton County, Ohio in late May 2006, and such acquisition was recorded in the Vinton County, Ohio Deed Records on June 22, 2006. This is the planned acquisition announced by PetroQuest in its February 28, 2006 Press Release. The gas gathering system that was acquired is comprised of a combination of 4 inch, 3 inch, and 2 inch steel and plastic natural gas piping.
Following its acquisition, this gas gathering system was connected to a 132 mile natural gas pipeline, gathering, and transportation system immediately to the North of the 82 mile system that was already owned by Tyr Energy.
This acquisition is part of the Company’s long range plans to provide a transportation system in Vinton County, Ohio for the natural gas produced by PetroQuest’s subsidiaries and third parties on a fee basis.
For more information, please contact Edwin Staples, the Secretary of PetroQuest Resources, Inc., at the address and telephone number shown below:
Mr. Edwin Staples
PetroQuest Resources, Inc.
1112 East Copeland Road
Suite 420
Arlington, Texas 76011
(440) 368-3558
(817) 795-0154 – Fax
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, the potential for additional customer growth from acquired operations and additional opportunities for growth. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including general economic business conditions, unfavorable weather conditions, the success of certain cost containment initiatives, changes in regulations or regulatory treatment, availability and the cost of capital, the success of growth initiatives, and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by PetroQuest Resources, Inc.
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