Capital City Energy Group Continues Successful Participation
in the Barnett Shale
Fourth Natural Gas Well Begins to Produce at 3.2 Million
Cubic Feet/day
Capital City Energy Group, Inc. (OTCBB: CETG) announced
today that it has successfully participated in its fourth
producing natural gas well drilled in the prolific Barnett
Shale formation in central Texas. The horizontally drilled
well located in Tarrant County was recently fracture
stimulated and placed into production at an initial rate of
3.2 million cubic feet of natural gas per day. Capital City
Energy Group has also participated in three additional
horizontal wells located in Parker and Tarrant Counties,
which have been successfully drilled and are awaiting
fracture stimulation, after which they will be placed into
production by the operator.
"We are very pleased with the results of our latest
drilling participation venture in the Barnett Shale, and
we're excited to have a foothold with a successful operator
in the area," said Capital City Energy Group CEO
Timothy Crawford. "The success we have had in this area
is consistent with the Company's approach to participate in
drilling ventures in areas with proven production that can
generate significant cash flow for the Company. Given the
robust environment for natural gas prices, our Company and
its energy funds should benefit from production in this
region for years to come."
Located near Fort Worth, Texas, the Barnett Shale has become
one of the premier natural gas producing formations in the
United States, estimated to hold some 39 trillion cubic feet
of natural gas reserves. Total daily production from the
Barnett Shale formation is estimated to exceed 3.5 billion
cubic feet.
About Capital City Energy Group, Inc.
Based in Columbus, Ohio, Capital City is a diversified oil
and natural gas company with three separate divisions.
Capital City is evolving from being an innovative leader in
the design, management and sponsorship of retail and
institutional direct participation energy programs to become
one of the few vertically integrated independent oil &
natural gas companies. Their strategy is to continue to grow
a portfolio of core areas which provide growth opportunities
through grass-roots drilling, operating, service companies,
acquisitions and fund management.
"Investing in America's Energy Future"
Visit Capital City Energy Group at www.capcityenergy.com
Safe Harbor Statement
Investors and readers are cautioned that certain statements
contained in this document, as well as some statements in
periodic press releases and some oral statements of our
officers and directors during presentations about our energy
funds, along with Capital City Energy Group's filings with
the Securities and Exchange Commission, including the
Company's registration statements, quarterly reports on Form
10-Q and annual report on Form 10-KSB, are
"forward-looking" statements within the meaning of
the Private Securities Litigation Reform Act of 1995 (the
"Act"). Forward-looking statements include
statements that are predictive in nature, which depend upon
or refer to future events or conditions, which include words
such as "expects", "anticipates",
"intends", "plans", "could",
"might", "believes", "seeks",
"estimates" or similar expressions. In addition,
any statements concerning future financial performance
(including future revenues, earnings or growth rates),
ongoing busin
ess strategies or prospects, and possible future actions,
which may be provided by the Company's management, are also
forward-looking statements as defined by the Act.
Forward-looking statements are based on current expectations
and projections about future events and are subject to
various risks, uncertainties and assumptions about Capital
City Energy Group, its technology, economic and market
factors and the industries in which the Company does
business, among other things. These statements are not
guarantees of future performance and Capital City Energy
Group, Inc. undertakes no specific obligation or intention
to update these statements after the date of this release
CEOcast, Inc. for Capital City Energy Group, Inc.
Daniel Schustack, 212-732-4300
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