DEBARY, FL / ACCESSWIRE / June 26, 2015 / World Oil Group, Inc. (OTC: WOGI) is pleased to announce the Company has completed fracking 4 wells and has begun fracking the 5th well yesterday. The Company has installed pump jacks on 4 of the wells (wells 1, 2, 3, & 4) and began operating 3 of the wells (wells 1, 2, & 3).
WOGI would further like to introduce Grace Carlton to our shareholders. Mrs. Carlton has assumed the role of Creative Director for World Oil Group, Inc.
WOGI had some complications during the fracking process that was set to begin on April 15th, 2015, and these complications have delayed the output of oil from the wells.
Nathan Hall our CEO states, the delays have caused many concerns in market, but explaining to our shareholder drilling in Pennsylvania is not like drilling in other place(s) of the United States such as Texas, Oklahoma, and Colorado or even in North Dakota. The historical shallow shale oil drilling in Pennsylvania versus the deep well shale and non-shale platforms in the Western/Northern United States are very different.
Shallow Shale Oil Drilling in Pennsylvania is the birthplace of Oil Drilling in the United States and has vast historical geology in the entire Venango County of Strong Oil Finds. The entire county has great oil saturation to the point oil seeps from the ground without drilling. Therefore, when we drill an oil well and frack the shallow well, its capillaries start to absorb from the entire area and redirect to where the pumping is near.
Therefore, it becomes a greater ROI with a lower amount of cost to drill wells in this region versus than other regions of the United States, for almost the same amount of oil production. The reason why more people are not drilling in this region is because close groups of shallow well drillers have protected these areas to preserve jobs for the locals. WOGI by and through our local drilling partner supports the local drilling economy. Therefore, we have greater opportunities than most for future drilling projects.
The Company’s shallow oil well projects are very conservative and never have dry holes due to the geological and historical report(s) we base our drilling programs on.
As mentioned before in previous press releases and restated in this release, our geologist has shown strong oil reserves in the Company’s Oil Leases and the 10 Well Corse Oil Well Lease we are currently fracking via nuclear well reports. The Company has had no other issues other than the pipe thread failure, which has been corrected. If additional issues arise from the batch of pipe that was purchase, then we will inform our shareholders. The last batch of pipe was returned at no additional charge to the company. Hopefully, this clears up any questions or concerns anyone may have.
We would refer our shareholders and potential shareholders to follow the Companies videos it has posted on its Facebook and YouTube channels to show the progress along the way. As you will see in the progress update videos, there is a strong oil presence in all 10 oil wells the Company has drilled and begun fracking.
Currently, we are slightly delayed considering the challenges we have had with pipe thread failure on 2 wells, and having to bring in work over rig in and fix the pipes. For those not familiar with the Oil & Gas/Construction type industries, slight delays like this are normal.
As for the continued fracking, we are trying to slow the fracking process down in order to wait for the oil prices to rise. The delays we have had have pushed by our timeline of oil coming from the wells, but our fracking reports show a strong presence of oil. The oil extraction from a fracked well relies on suction to pull the oil from the capillaries after the frack. The longer it takes to pull the oil is a sign of a good frack.
For example:
If you were to drain a well using a 10ft hose it would begin draining very fast, but if you used a 200 foot hose for the same well applying the same amount of suction it would take longer for the well to drain as the suction needs to build, this is what we are experiencing.
The Company has hired Grace Carlton as a contract advisor, her job will be to assist WOGI with its sales and marketing, branding, and shareholder relations. Mrs. Carlton beginning next week will assume the responsibility of flowing information out to the shareholders through all media channels including weekly press releases, Twitter, Facebook, and maintaining the information on website. With Mrs. Carlton’s assistance the flow of information will be consistent and allow the shareholder base to be kept informed as events take place.
Below is a detailed video report on the condition of each well and the delays each well have had. We stated on March 15, 2015 we would begin fracking on April 15, which was delayed due to weather and the actual fracking did not begin until the last week of April as of this release the fracking process is in its 9th week when you factor in other delays from pump jacks and pipe issues the Company lost approximately 4 more weeks allowing only 5 actual weeks for fracking. This video will give a complete update.
WOGI Video Update: WOGI Video Update of Wells 1,2,3,4&5
https://youtu.be/UwKg609Gaf4
About World Oil Group, Inc.
World Oil Group, Inc. (WOGI) is a petroleum company that has traditionally focused on Oil & Gas Exploration in the Pennsylvania markets by and through its wholly owned subsidiary EPA Petroleum, Inc. First Quarter, WOGI is scaling up operations in the MENA, Gulf and Central/South American regions in 2015, the company will keep its shareholders updated.
EPA Petroleum, Inc. “EPA” is a wholly owned subsidiary of World Oil Group, Inc. (WOGI). The Company is an independent producer of crude oil and natural gas. EPA Petroleum is actively involved in drilling activities within the Commonwealth of Pennsylvania.
World Oil Group, Inc. is now taking the path breaking challenge to lead the world on its “Sustainable Oil & Gas Field Model” implementing the concepts and related applications model in the Petroleum Industry. WOGI is always seeking new opportunities in the petroleum industry and will look to develop economic growth in the areas it works. As WOGI enters into a market, it will seek to help bring jobs within its foot print. World Oil Group’s vision is to grow exponentially with the Petroleum Industries using “The Sustainable Oil & Gas Fields” concepts and applications for E&P & EOR, and Energy Trading in the USA and around the world.
The foregoing press announcement contains forward-looking statements that can be identified by terminology such as, “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management’s expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For more information contact:
CONTACT:
Nathan Hall, President CEO
World Oil Group, Inc.
Ph. 407-777-9228
info@epapetroleum.com
www.WorldOilGroup.com
Twitter.com/epapetroleum
facebook.com/epapetroleum
http://smallcapvoice.com/blog/6-5-15-smallcapvoice-interview-with-world-oil-group-wogi/
http://thestockradio.com/otcpink-wogi-world-oil-group-inc-ceo-nathan-hall-1902.html
SOURCE: World Oil Group, Inc.
ReleaseID: 430180
