
BELLEVUE, WA, Tuesday, 22 February 2011, Westmont Resources Inc. (“Westmont”) (OTCQB:
WMNS) today announces the completion of a previously announced Marcellus shale play
acquisition located in the southwest tier of Pennsylvania. The acquisition consists of approximately
233 net acres of leasehold in Westmoreland County and includes 8 producing wells of
approximately 280 Mcf per day (gross) of natural gas, 145 net acres held by production, a six-inch
steel pipe gathering system, and a saltwater disposal well.
Glenn McQuiston, Westmont’s President, stated, "With the completion of this acqu ...
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Westmont Resources Inc is an independent oil and gas exploration and development company focused on “wringing value from” long-lived, low risk natural gas and oil properties. Our current operations are centered on taking existing properties from others and creating more value from them for our shareholders.
We specialize in applying cutting-edge technology to squeeze more oil out of mature basins. Its our core competence.
Currently we are focusing our efforts on the emerging Marcellus and Chattanooga Shale Play in the Appalachian Basin and in the vicinity of other major oil company discovery wells.
The company’s strategy is two-fold. First, to grow rapidly through the acquisition or “roll-up” of undervalued oil & gas properties with proven reserves in heavy oil and oil shale which have not been fully developed. Second, through the use of proprietary disruptive technologies the company “wrings out” the untapped value of the target properties’ reserves. |
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The company’s Oil & Gas Extraction Technology (Eco-Recovery4) process,
which is multi-patent protected, yields a quadruple-play in competitive advantages, which further differentiates Westmont from other producers.
- First, Eco-Recovery4 dramatically increases the oil’s viscosity, increasing yields by up to 90%.
- Second, because Eco-Recovery4 utilizes a well’s own gas production, it yields cost advantages of up to 50%.
- Third, Eco-Recovery4 has the advantage of extracting up to 90% of a basin’s reserves verses a 40% recovery when employing other extraction method.
- Fourth, as Eco-Recovery4 has virtually no adverse environmental impact the application has the potential for more universal acceptance and negates the costs of environmental damage mitigation, which furthers its economic advantages.
Eco-Recovery4 is designed to extract oil from formations such as tar/oil sands and Shale with a calculated recovery of 90% or more. The process mechanically injects a heated solution of natural gas, derived from the production of the well, delivered deep into the formation by a proprietary tool that melts the heavy tar oil and Shale oil to a thin viscosity and then extracts it to heated storage tanks on the surface. The technology is readily adaptable to traditional oil and gas extraction systems as well as Shale fracturing systems. Contrary to other methods, Eco-Recovery4 includes constant control and fracturing with no paraffin accumulation, a cost effective extraction method with substantially lower entry and production costs enabling higher margins and longer lives for capital equipment.
Eco-Recovery4 maximizes reserve recoveries due to its ability to penetrate further into the formation at a higher constant operator controllable temperature all of which are not possible with the most commonly applied extraction methods. All the while Eco-Recovery4 provides a net neutral environmental impact. Eco-Recovery4 is proving to be an environmentally safer solution with no contamination of formation or blocking of production. This is particularly of interest in the more confined and populous regions of the Marcellus and Chattanooga shale basins which are advantageously in close proximity to the major gas & oil markets in the northeast United States.
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WMNS Headquarters
155 – 108th Avenue NE
Suite 150
Bellevue, WA 98004
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WMNS Regional Office
509 – 3rd Street
Monessen, PA 15062
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Email: info@westmontresources.com
Toll-Free: +1 888 264 2738
Telephone: +1 206 922 2203
Fax: +1 425 491 2838
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This report / release / advertisement / website is an advertisement and is for general information purposes only. Do not base any investment decision on information in this or any other information from WMNSReport. All information herein should be viewed as a commercial advertisement and is not intended to be used for investment advice. WMNSReport is not a registered investment advisor and is not qualified to give investment advice. WMNSReport is not affiliated with Westmont Resources, Inc. Company or its employees in any way. WMNSReport and its outside sources use certain data derived from the U.S. Securities and Exchange Commission (SEC) filings, public information and data compiled by other vendors. The reader should verify all claims and do his/her own research and due diligence before investing in any securities mentioned. Guests of WMNSReport's website, readers of WMNSReport's distributed reports / releases / advertisements, and other interested parties assume full responsibility for the accuracy of all SEC filing data, compiled data from other sources including data from the issuing Company, and are urged to confirm that data with the specific issuing Company. Quotes appearing in this report / release / advertisement were supplied directly from Grass Roots Research and Distribution Inc. The report and its respective disclosures can be viewed in their entirety at www.aaphreport.com. WMNSReport will not be liable to any person or entity for the quality, accuracy, completeness, reliability or timeliness of information in this report / release / advertisement, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information, products or services from any person or entity including but not limited to lost profits, loss of opportunities, trading losses, and damages that may result from any incompleteness or inaccuracy in the profiled company information WMNSReport and its data vendors do not assume any responsibility or liability for any investor decision made as a result of accessing fundamental and/or financial data on the profiled company as a consequence of viewing our materials. Recent Price refers to the closing price of WMNSCommon stock on April 4, 2011. WMNSReport encourages its readers and visitors to its website to invest carefully and read the investor information available on the web sites of the Securities and Exchange Commission ("SEC") at www.sec.gov and/or the National Association of Securities Dealers ("NASD") at www.nasd.com. Investors interested in purchasing securities are advised to contact the Company directly, read the Prospectus, 10K, 10Q other relevant public documents in full, request Company financial information and to conduct their own research and due diligence.
Correspondence with WMNSReport.com can be made in writing to: WMNS Headquarters:
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WMNS Headquarters
155 – 108th Avenue NE
Suite 150
Bellevue, WA 98004
Telephone: +1 206 922 2203
Fax: +1 425 491 2838
Investor Relations WMNS
© Copyright 2011, Westmont ResourcesCompany
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