Internacional (Marketwired, 05 de Agosto de 2013) Homeland Resources Ltd. (OTCQB: HMLA), an emerging oil and gas exploration and production company, announced today that it received notice from the Liberty Ridge Oil and Gas Project operator that drilling of the 2nd well of the Phase-1 exploration program has been completed. Subsequently, it was determined that the well is non-commercial. As a result, the 2nd well will be plugged and abandoned.Homeland and its partners anticipate that drilling of the remaining six prospects of Phase-1 at the Liberty Ridge Oil and Gas Project will continue following rig and crew mobilization to the next prospect location. Confirmation of a spud date for the third well in the program is expected within 2-3 weeks.
The Liberty Ridge Oil and Gas Project is a multi-well multi-phase exploration drill program currently being conducted by Homeland and it partners. The exploration and development objectives at the Liberty Ridge Project aim to target potential new discovery oil and gas fields in 2nd Wilcox sand, 1st Wilcox sand, Trenton dolomite, Simpson dolomite, Viola limestone, Hunton limestone, Bartlesville sand and Redfork sand formations, each of which are known to have been productive in the region.
The current Phase-1 drilling program at Liberty Ridge consists of eight (8) wells selected from at least 34 distinct high-graded prospects generated by the partnership's proprietary 3D seismic database covering the entire 83,043 acres (130 square miles) project area. Drilling at the Liberty Ridge project is expected to continue throughout 2013-2014.
For more information about Homeland Resources including their oil and gas projects, visit www.homelandresources.com. Stay current on all available information regarding Homeland and the energy sector by connecting with them on their social platforms:
About Homeland Resources
Homeland Resources Ltd. (OTCQB: HMLA) is a performance-driven exploration and production company focused on developing relatively low-risk North American natural gas reserves. Homeland's current focus is on the continued exploration and development of their property portfolio comprised of working interests in the Smoky Hill Project (5% interest) and the Liberty Ridge Project (5% interest) in Oklahoma. Homeland Resources is also seeking to expand their portfolio to include additional interests in North America.
For more information on HMLA, please visit www.homelandresources.com.
Notice Regarding Forward-Looking Statements: Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
For further information please contact:
Homeland Resources Investor Relations
Homeland Corporate: www.homelandresources.com
Toll-free: (877) 503-4299