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"We are pleased to announce there is a national firm working with us to raise this capital," stated Chris A. Dittmar, EnDevCo's Chief Executive Officer. "We have conclusively proved the income potential at Short Junction Field with the WSJU #109StH, our first horizontal well, and the only thing now holding back the Field's rapid production growth is the proper financing structure. Even with these tough market conditions, we have reason to believe a substantial portion of the raise will be closed before the end of 2008," Mr. Dittmar commented.
About EnDevCo:
EnDevCo is a dynamic energy company rapidly establishing an identity consistent with its operating philosophy of "Science Before The Drill Bit." The Company has domestic and foreign oil and gas projects with current interests in Oklahoma, the Gulf of Mexico offshore Louisiana, Colombia and Peru. EnDevCo's largest domestic property, Short Junction Field, located in Oklahoma, currently produces from 24 oil wells and 2 gas wells. EnDevCo maintains offices in Houston and Dallas, Texas. For more information on EnDevCo, visit http://www.endevcoinc.com.
This press release includes certain "forward-looking statements". The forward-looking statements reflect the beliefs, expectations, objectives, and goals of EnDevCo, Inc. management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include, but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. The forward-looking statements contained in this report are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.
SOURCE EnDevCo, Inc.
http://www.endevcoinc.com
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