Message #5 From:
NewsBot Date: July 6, 2006 06:00:00 AM
IASCA News IAS Communications, Inc. Commences the Drilling of the Second Gas Well in Kentucky
VANCOUVER, British Columbia--(BUSINESS WIRE)--July 6, 2006--IAS Communications, Inc. (OTCBB:IASCA) (www.iasenergy.com) has commenced the drilling of the Elvis Farris #2 well, located on the Farris Lease, in Laurel County, Kentucky, which is under lease by Energy Source, Inc.
IAS will earn a 100% interest in each well drilled and financed by IAS, subject to a 12-1/2 percent revenue interest to the landowner, and 27-1/2 percent to Energy Source, Inc., the lessee and operator of the wells.
Teryl Resources Corp. (TSX VENTURE:TRC) (www.terylresources.com) has an option for a 40% working interest in the Elvis Farris #2 well, from IAS, in consideration for paying for 50% of the costs of drilling.
Production History
East Kentucky wells historically have been producing natural gas since the 1920's with wells experiencing up to 30 MMCF GPD in daily production. There are five potential pay zones that have produced successful natural gas production. Data from the University of Kentucky, reviewed for the year 2000, shows approximately 481 wells in east Kentucky, with 421 of those wells completed as commenced producers.
About IAS Communications, Inc.
IAS Communications, Inc. has an interest in two producing oil and gas wells in Texas. The wells are operated by Anadarko Petroleum Corporation, which is one of the largest independent oil and gas exploration and production companies in the world. IAS has an option to drill up to 24 gas wells in Kentucky to earn a 60% net revenue interest.
ON BEHALF OF THE BOARD OF DIRECTORS
"John Robertson"
John Robertson
President
Forward-Looking Statements
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain additional cord blood banking revenue streams. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.
