Message #6 From:
NewsBot Date: December 8, 2006 06:00:00 AM
EDEX News Eldorado Exploration New Mexico Well Progress
IRVINE, Calif.--(BUSINESS WIRE)--Eldorado Exploration, Inc. (PINK SHEETS:EDEX) announced today that its
Mesa #1 well, being drilled to 7100 ft in Roosevelt County, New Mexico
has reached a depth of 6600 ft and is now drilling in the Canyon reef
zone. The well will continue to 7100 ft to test several Canyon sands and
the Montoya Dolomite at 7000 ft. The well results will be announced
after the well reaches total depth and all potentially productive zones
have been logged and tested. The well is behind schedule because of slow
drilling rates of 5 feet per hour through several thick sections.
Eldorado Exploration, Inc. is an independent oil and gas company that
utilizes a process called Passive Induced Polarization ‘PIP’
to detect electrostatic signals given off of some geological anomalies.
In most cases a positive response indicates a hydrocarbon accumulation
and a negative reading almost is always a dry hole. When used with the
standard geological tools and methods, the PIP process enhances the odds
of success for discovering oil and gas.
Please be advised that statements made herein, other than historical
data, constitute forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from
those stated or implied by such forward-looking statements. The
potential risks and uncertainties include, among others, potential
volatility in the company’s stock price,
increased competition, customer acceptance of new products and services
offered by the company, and uncertainty of future revenue and
profitability and fluctuations in its quarterly operating results.
Please also be advised that Eldorado Exploration is a non-reporting Pink
Sheets company and is not required to be registered with the Securities
and Exchange Commission.
