Dallas, TX (PRWEB) December 12, 2008
Omni Oil & Gas, Inc. (OMOI.PK, http://www.omnioil.com), a company specialized in oil and gas, as well as mining, today announced developments relating to its Acleto Creek operations, and a Letter of Intent to lease and mine land in the Cripple Creek area of Colorado.
The announcement included results of rework and re-completion on 15 of the 16 wells located on the Acleto Creek field in Wilson County (Southeast Texas) of which Omni owns a 52% NRI. The lease is comprised of 15 production wells and 1 saltwater disposal well. At the onset of the rework/re-completion operations there were 2 wells producing 1 bopd.
Between November 18 and December 8, the lease operator, Rockland Oil Co., performed work on 15 of the 16 wells. After this work was concluded, the results were eleven wells producing at a rate between 45 and 50 bopd. Four wells were determined not to have producing potential at this time and a fifth well is part of the water disposal system.
Seven wells on the lease have potential for re-completion in new zones that are expected to be incorporated in Omni’s next operations that should be scheduled late in the first quarter or early in the second quarter of 2009.
Additionally, Omni announced that it had executed a Letter Of Intent to lease and mine 18 acres of land located in the Cripple Creek area of Colorado. Lease fees will be 20% of production revenues with the remainder of production revenues going to Omni.
The Letter of Intent refers to property located on a volcano vent near two mines being operated by well-known operators. Drill log data indicates gold and silver deposits from near the surface to a depth of 90 feet. Omni is currently searching for an additional site with the intent of operating a mill using subcontractors or Omni’s own employees.
About Omni Oil & Gas, Inc.:
Omni Oil & Gas, Inc. (http://www.omnioil.com) specializes in the acquisition and enhancement of properties in both proven and exploratory oil and gas fields. To date, Omni has assembled, and is reworking, a portfolio of four oil and gas fields throughout Texas, Louisiana, Alabama and Oklahoma with over 30 wells producing, or capable of producing. Omni also conducts exploration for gold and other precious metals through its wholly owned subsidiary, American Gold Resources Corp.