Triton American Energy Acquires Interest in Four Additional Wells
HOUSTON, TX -- 10/28/2004 -- Triton American Energy Corp. (OTC: TRAE) of Houston, TX., is pleased to announce they have acquired interest in four additional wells. These wells are located within the Ellisor Field in East Texas.
Two of the wells which were acquired possess natural gas. The first well had an outflow of 220,000 cubic feet of gas per day. Geologists anticipate the well to last approximately 3 additional years. Once the well runs dry, Triton will convert it into a water injection well. This process will save Triton time and money from transporting excess water from additional wells.
The second gas bearing well which Triton has acquired is set in place with a work over rig on the well. After geologist surveyed this well, it was determined it should produce 250,000 cubic feet of gas per day.
The third well which was acquired comprises oil. This well was also surveyed by geologist and had an initial outflow of 12 to 15 barrels per day.
Based on the aggressive acquisition strategy of Triton, management acquired one well bore which was converted to a salt water injection well. This acquisition was designed to save Triton the time and cost of exporting water which is frequent found in gas and oil bearing wells.
Triton American Energy, President Louis Guidry states, “Our business model is to continually build our company through acquisitions and cutting costs. 2004 has been an exceptional year of growth for Triton. We anticipate our wells from the Ellisor field to drive in revenue by mid February 2005.”
About Triton American Energy Corporation:
Triton American Energy is an independent crude oil and natural gas and oil exploration and production company based in Houston, Texas. The companies business plan is structured to take advantage of todays rising energy cost, while reducing as much financial risk as possible. Tritons niche or specialty are the small to moderate operations (usually 1-50 well projects). These wells can be worth hundreds of millions of dollars in revenue but require more hands-on attention then the major producers are willing to give.
For more information, please contact Investor Relations at (973) 351-3868 for Stephen Taylor or visit our website at: www.tritonamericanenergycorp.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company’s actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company’s liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
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