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Article: Hemi Energy Group Updates for Kansas and Texas.
- Article from:
- Business Wire
- Article date:
- February 27, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FORT WORTH, Texas -- Hemi Energy Group, Inc. (Pink Sheets: HMGP) January oil production ramped up to 669 bbls from the December production of 461 bbls. We sold 395 bbls in January and are cash flow positive as we were in December. Even though we are in the dead of winter in Kansas, which required us to periodically shut down some wells on leases for maintenance caused by winter weather, we have still been able to increase production to this level. Not reflected in these numbers is the Bennett lease which is still off line for additional development and service work. The de-watering process is working well as the ratio of oil to water is continuing to improve which ...
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