M2 Presswire, 2007, p.1
2007
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- Stockwire.com: Speak with other shareholders about: (PINK SHEETS: GIAS); (PINK SHEETS: KNEC); (OTC: RGDE); (OTCBB: WWAT)
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- M2 Presswire, 2007, p.1
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- Coventry: Normans Media Ltd
- Erscheinungsjahr
- 2007
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- M2 PRESSWIRE-March 5, 2007-Stockwire.com: Speak with other shareholders about: (PINK SHEETS: GIAS); (PINK SHEETS: KNEC); (OTC: RGDE); (OTCBB: WWAT) (C)1994-2007 M2 COMMUNICATIONS LTD Gaia Resources Inc., (GAIA) a Nevada based resource company has formed a wholly owned subsidiary in the State of Arizona known as Gaia Exploration, Inc. Gaia Exploration, Inc. was formed to hold mining assets attributable to its gold mining operations within the state of Arizona. Gaia is an early development stage mining company traded on OTC PINK SHEETS: (GIAS). The formation of Gaia Explorations, Inc. is the final step in acquiring the rights to 482.66 acres of prime mining property claims in Cochise County, Arizona as well as future acquisitions of prime targeted properties. This property known as the MFH Property is south of the famous Commonwealth Mine that is located in Pearce County just east of the Dragoon Range. Following acquisition of the MFH Property, Gaia expects to begin an aggressive drilling and bulk sampling program on the targeted property. The program is slated to commence in early spring of this year. Knight Energy Corp. (Knight) was formed on March 2, 2006 for the purpose of operating and developing energy related businesses and assets, including, without limitation, the acquisition, exploration and development of natural gas and crude oil, the acquisition and operation of drilling rigs and/or gathering systems and/or pipelines for natural gas and/or crude oil, and other related businesses. We acquired 75% of our wholly-owned subsidiary, Charles Hill Drilling, Inc.; a Nevada corporation based in Texas, in March 2006 and then purchased the remaining 25% in May 2006. Through Charles Hill Drilling, we own a 100% working interest in a 160-acre oil and gas lease located in Stephens County, Texas, together with a drilling rig that we are using to drill wells for our own account. On this lease, we have drilled and completed the A-8 well, and re-entered, deepened and completed the A-7 well -- both to a depth of approximately 4,200 feet. As of January 30, 2007, both of these wells are producing oil with a high ratio of frac water. We also have placed compressors on three previously capped shallow wells, and as of February 1, 2007, we were receiving an aggregate of approximately three barrels of oil and ten mcf of natural gas per day from these three wells. In addition, we have leased an additional 400 acres that run contiguous to our 160-acre lease, and we have the right of first refusal on approximately 3,100 more acres in the same area. As of February 1, 2007, we were conducting a satellite imaging program covering all 3,660 acres in the Stephens County area. In addition, in January 2007, we acquired a 75% working interest in an additional lease covering 640 acres in Stephens County, Texas, which we also intend to explore and develop.
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- Englisch
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- Titel-ID: cdi_proquest_wirefeeds_446215730
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