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Pipeline construction related to connecting wells 42-105-40868 and 42-105-40820 has been completed. The Company is in the process of preparing these wells for conducting the flow and chemical composition tests as required by the State of Texas. The estimated time for starting sales gas deliveries to the Millennium pipeline is mid-December. The deliveries are subject to satisfactory inspection results by Millennium.
The Company's pending deal with Blackhawk Investments Ltd. has expired without closing on November 30, 2008. Consequently, the Company has released Mr. Jason Lacewell from his consulting contract that was mainly intended to service the Company's expected technical needs in the Barnett Shale.
Commenting on these activities, the Company's CEO, Yossi Attia, stated: "We are energetically progressing in starting production in our Crockett County, Texas leases. Although there are many reasons why the Blackhawk transaction expired, we are relieved that we will be conserving our resources in this tough financial climate and will have the opportunity to consider higher quality acquisitions as the industry players continue to shed assets."
Vortex is an emerging natural resources company with current operations in West Texas. The Company's focus is on the acquisition, exploration, development and production of oil, natural gas and minerals. The Company's objective is to find, acquire and develop natural resources at the lowest cost possible and recycle its cash flows into new projects yielding the highest returns with controlled risk.
SOURCE: Vortex Resources Corp.
Investor Relations: Taylor Capitol, Inc. Stephen Taylor, 973-351-3868 STEPHTAYL9@AOL.COM
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