Miller Petroleum Confirms the Hodnett #1 Reaches a Total Depth of 10,873'
03 Mai 2006 - 3:00PM
PR Newswire (US)
HUNTSVILLE, Tenn., May 3 /PRNewswire-FirstCall/ -- MILLER
PETROLEUM, INC. (OTC:MILL) (BULLETIN BOARD: MILL) Drilling has been
completed to a total depth of 10,873' on the Hodnett #1 Prospect,
in Brazoria County, Texas. This well is included in a recently
formed Joint Venture, Wind Mill Oil & Gas LLC, in which Miller
Petroleum has a 49% interest. Wind Mill has a 50% working interest
in the well. With the completion of geological and engineering
evaluation of the logs and cores, 5 1/2" production casing has been
ran to produce natural gas from 9130', oil from an 8800' zone and
oil from an 8600' horizon. A natural gas sales line is nearby for
immediate production revenues. Within a week or so, a work over rig
should be on site to complete the well. "From what we have seen
from the logs and geology, our preliminary work to qualify the
prospect has been money well spent. We are anxious to obtain the
production data," noted Deloy Miller, CEO, Miller Petroleum, Inc.
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: Deloy Miller, CEO of
Miller Petroleum, Inc., +1-423-663-9457, or Web site:
http://www.millerpetroleum.com/
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