Rigs are Procured
23 Mars 2006 - 4:28PM
PR Newswire (US)
HUNTSVILLE, Tenn., March 23 /PRNewswire-FirstCall/ -- MILLER
PETROLEUM, INC. (OTC:MILL) (BULLETIN BOARD: MILL) - Wind Mill Oil
& Gas LLC, in which Miller Petroleum has a 49% interest, has
received delivery on a new Ingersoll - Rand RD20. This new drilling
rig is currently on Miller's yard and should begin drilling in mid
April. This is the first of four rigs the company will put into
operation in 2006. Additionally, a used Ingersoll - Rand RD20
drilling rig has been purchased and will be on Miller's yard in
about 2 weeks and should be drilling the first of May. Deposits
have been placed for two new SS185K Speed Star rigs to be delivered
in late 2006. These company rigs will be drilling the joint
venture's high graded prospects without depending on drilling
contractors for scheduling. "The drilling efficiency should add
producing wells rapidly," noted Deloy Miller - CEO of Miller
Petroleum. Miller also stated, "We are fortunate to have gas sales
lines nearby our leases to generate immediate cash flow. The
quantity of expected wells should: enhance our production income,
add greatly to our reserve base and improve our bottom line of
profitability." Miller Petroleum, Inc. is a publicly traded, fully
integrated, gas and oil exploration and production company with
headquarters in Huntsville, Tennessee. The company's gas and oil
reserves are rapidly increasing in the Appalachian Basin.
Forward-looking statements made in this release are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that all
forward-looking statements involve risk and uncertainties which may
cause actual results to differ from anticipated results, including
risks associated with the timing and development of the company's
reserves and projects as well as risks of downturns in economic
conditions generally, and other risks detailed from time to time in
the company's filings with the Securities and Exchange Commission.
DATASOURCE: Miller Petroleum, Inc. CONTACT: (MILL) Deloy Miller,
(CEO) of Miller Petroleum, Inc., +1-423-663-9457, or Web site:
http://www.millerpetroleum.com/
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