Zeppelin Energy Signs Letter of Intent to Farm Into Shallow Gas Properties
04 Mars 2004 - 3:30PM
PR Newswire (US)
Zeppelin Energy Signs Letter of Intent to Farm Into Shallow Gas
Properties CALGARY, March 4 /PRNewswire-FirstCall/ -- Zeppelin
Energy (OTCBB:ZEPE) announces today that it has entered into a
Letter of Intent to farm into shallow oil and gas interestsin an
area of west central Alberta covering approximately 2320 acres.
This acreage has been penetrated by multiple wells which contain
log indications that unrecovered gas reserves may exist. Zeppelin
proposes to complete due diligence evaluations as well as further
geological and engineering studies on the subject interests before
completing this transaction. The acreage which is subject to the
Letter of Intent contains potential gas bearing zones in the Belly
River and Paskapoo formations. These formations have proven to be
productive within two miles of the acreage potentially to be
acquired by Zeppelin and occur at depths of less than 4400 ft.
Previous and current oil and gas operations in the region have
established a comprehensive grid of pipelines and hydrocarbon
handling facilities within a mile of the project area. The
potential acquisition relating to the Letter of Intent is part of
the ongoing strategy of Zeppelin to establish a firm cash flow base
to support the proposed growth of the company in Western Canada and
Latin America. Investors are cautioned that until the due diligence
and technical studies are completed and final Zeppelin Board of
Directors approval has been received this transaction is not
certain to close. Hydrocarbons associated with this project cannot
be considered proven until confirmed by drilling. Funding for this
project is not firmly established at the date of this press
release. About Zeppelin Energy. Zeppelin Energy is a publicly
traded company on theOTC BB ("ZEPE"). Zeppelin Energy is an
independent energy company dedicated to the acquisition of proven
Oil and Gas properties with specific emphasis in the Western
Canadian Basin, Central and South America. Those wishing to learn
more about Zeppelin Energy are encouraged to visit
http://www.zeppelinenergy.com/ or to contact the undersigned.
Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities
Exchange Act of 1933 and Rule 3b-6 under the Securities Exchange
Act of 1934, and are subject to the safe harbor created by those
rules. All statements included in this release other than
statements of fact are forward-looking statements that involve
risks and uncertainties. DATASOURCE: Zeppelin Energy Inc. CONTACT:
Menno Wiebe, 403-444-6901,
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