NDDA
New Oil Sands Reserve Report Commissioned
Wednesday February 28, 3:01 am ET
MENV-OTCBB USA NDDA-Frankfurt Stock Exchange Symbol A0J3PY-WKN # Frankfurt Stock Exchange
VANCOUVER, Feb. 28 /PRNewswire-FirstCall/ - Micron Enviro Systems, Inc. (OTCBB: MENV - News; Frankfurt Stock Exchange: NDDA - WKN:A0J3PY - ISIN: US59510E2072) ("Micron"
is extremely pleased to announce that it has retained independent petroleum consultants, AJM Petroleum Consultants of Calgary, Alberta to provide Micron with an updated reserve report covering all 20.5 sections of the Alberta Oil Sands that Micron now has an interest in. The last report commissioned by Micron stated a possible contingent resource of approximately 3.7 billion worth of gross oil within the 4.5 gross sections that Micron had an interest in at that point and did not include the 16 new gross sections of land acquired by Micron. This new report is expected to be made public in 2-4 weeks.ADVERTISEMENT
Bernard McDougall, Micron's president stated, "Management feels that this new report will significantly add to the potential estimated in ground oil value attributable to Micron, considering the initial report only gave a possible resource worth approximately 3.7 billion in ground over 4.5 sections of which Micron has a 4.17% interest. This new report will also cover the 16 additional new contiguous Oil Sand sections, of which Micron has a substantial 50% interest in. Micron has increased its net oil sands acreage by approximately 4,500% in 2007 and management is very optimistic this new report will reflect a significant portion of this increase. Management is also quite confident that additional oil sand leases will be acquired by Micron in the coming weeks. March appears to be quite possibly the most important month in terms of Micron's corporate growth as representatives attend two major trade shows right at a time when a new reserve report will be released."
Micron is an emerging oil and gas company that now has exposure to seven separate leases consisting of interests in 20.5 gross sections in the Oil Sands of Alberta, Canada, which is the largest Oil Sands region in the world, and has minor production from multiple conventional oil and gas wells. Micron's goal is to become a junior oil and gas producer that focuses on the exploration, discovery and delivery of gas and oil to the North American marketplace. Micron continues to look for additional projects that would contribute to building Micron's market capitalization, including additional Oil Sands projects. At this time, Micron is one of, if not the smallest, market capitalized company with multiple leases (seven) and now has positive operations underway in this world-class oil and gas producing region. This is quite an enviable position for a company of Micron's modest market capitalization, and therefore Micron offers tremendous leverage to one of the world's largest oil resources.
If you have any questions, please call Micron at (604) 646-6903. If you would like to be added to Micron's update email list, please send an email to info@micronenviro.com requesting to be added.
This news release contains forward-looking statements. Forward