Message #4 From:
NewsBot Date: March 1, 2008 02:40:48 PM
Bateman Oil Field Productivity Update
USA Superior Energy Holdings, Inc. (OTCBB: USSU), a company focused on the application of new technologies to increase
volume and production in oil and gas wells, is providing an update of the
eighth week in utilizing the company's workover rig program. As
previously announced the company has 88 producing wells on approximately
1,200 acres on which the company is performing a two phase productivity
improvement program. The first phase, known as the stimulation phase, has
been completed on 42 of the 88 wells. The 42 wells that have been
stimulated are generating an average of more than 30 barrels per day as
compared to the 20 barrels per day average produced prior to stimulation.
This segment has provided sales of 1,600 barrels of crude for the month of
February despite having a portion of the unstimulated wells in an
unproductive state for 11 days while a workover rig was not in operation.
The total crude sales for January were just over 600 barrels. The
substantial increase in productivity and resulting sales have prompted the
company to begin the process of deploying a second workover rig. The
company, as planned, has initiated its chemical program to remediate
paraffin giving further stimulus to the company's daily production.
USA Superior Energy Holdings, Inc. is a company with excellent potential
focusing on applying new technologies to oil and gas fields as well as
other industries. USA Superior is composed of a team of experts in their
field, highly qualified with over 200 man-years of oil and gas field
experience; from finding to drilling, well completion to operations and
production, to problem solving, seasoned with success. Environmentally
concerned and responsible, responsive to project needs and specializing in
special projects, USA Superior Energy's focus has been on developing and
utilizing complementary technologies; Nitrogen (N2) and cased hole
horizontal drilling. USA Superior will seek to use these technologies
independently or in combination to exploit business opportunities.
Nitrogen (N2) is used to force oil out of reservoirs. It can be applied to
existing reservoirs and wellbores, thus minimizing the risk of finding oil
and gas. Cased Hole Horizontal Drilling (CHHD) is a new emerging
technology that can significantly increase the "communication" from the
wellbore to the fluids in the reservoir. With the current price
environment, many existing marginal wells can be rejuvenated into very
profitable wells.
This news release contains "forward-looking statements," as that term is
defined in Section 27A of the United States Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Statements in this
press release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Actual results could
differ from those projected in any forward-looking statements due to
numerous factors. These forward-looking statements are made as of the date
of this news release, and the company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results
could differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and intentions
contained in this press release are reasonable, there can be no assurance
that such beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set forth herein
and should also refer to the risk factors disclosure outlined in our recent
current reports on Form 8-K, our annual report on Form 10-KSB, our
quarterly reports on Form 10-QSB and other periodic and current reports
filed from time-to-time with the Securities and Exchange Commission.
