Ness Energy: Texas Production Increases, And Israeli Update;
Talks Continue With Israeli Companies
WILLOW PARK, TEXAS, U.S.A./NETANYA, ISRAEL: June 3, 2004
/MacReport-FirstCall/ -- Ness Energy International, Inc. (OTC
Bulletin Board: NESS) announced today historic increases in Texas
production, and an Israeli update; talks continue with Israeli
companies on Israeli well operations.
Texas Production Up
For the very short time Ness has operated its most recent
acquisition in Parker County, which consists of twelve (12)
wells and 1200 acres for exploration, production has increased
75%, with minimal effort and virtually no expense. On
average, the property produced 3,500,000 MCF per month. It
is now producing at a rate that will exceed 6,000,000 MCF per
month.
"Basically, all we did was repair equipment, fix valves and
repair pumping units. These are simple things that we can
easily see and fix and gain production. It makes me wonder
how much more production we can gain by fixing problems down the
hole" says Sha Stephens, President of Ness Energy
International.
Also, a rig was moved on for the first rework, on a well
bore that has been shut in for two years. Because of modern
technologies developed over the last few years, Ness can now
attempt a rework. This rework effort will bring the well out of
the conglomerate and up in the pregnant shale formation. The
pregnant shale formation is one that Ness has been experimenting
with, as noted in prior press releases, with great success.
Additional equipment will be deployed and added to the basic job
to help recover the treatment. Ness plans to have the
additional well on line within the next two weeks.
ISRAEL Update
Ness President released, to Management, his update of Israeli
operations. In summary, Ness is continuing the development of its
exploration plans in Israel, including rework of the Gurim well,
and is focused on making strategic acquisitions.
Talks continue almost daily with certain Israeli companies to
move ahead and participate with Ness on the rework of the Gurim
#4. (The Gurim #4 was the well that was tested back in March
and determined to have well bore problems, which Ness believes can
be rectified.)
President Sha Stephens further stated, "Our plans are to cut a
window well above the producing interval and directionally drill
up dip to a new target in the same zone that would be
approximately 200' away from the current perforations. This
should cause us to be able to produce the well water free and
achieve commercial production. We plan on doing this some
time this summer."
Ness is also focused on acquisitions that are strategic to its
interests in expanding operations in Israel. Currently, talks are
underway, including contract negotiations, on additional Israeli
companies which, if acquired, are intended to supply strategic
value to the Israeli operations, in terms of property
rights, capital and other assets.
About Ness-The Vision
The current business of the Company is focused upon development
and execution of oil and gas exploration plans with a focus both
on pursuits in the petroleum rich State of Texas, and also in the
Middle East, specifically Israel. Ness believe Israel, in
particular the southwest end of The Dead Sea, is a place where
"Science and The Bible shake hands" and that Ness will achieve the
vision of the location and recovery of an abundant source of oil
and gas in Israel.
Certain Information
Certain statements above are forward-looking based on
Management's expectations or estimates, subject to change. Words
like "anticipates," "expects," "intends," "plans," "projects,"
"believes," "estimates" and similar identify them. They are not
guarantees of performance or otherwise and are subject to risks,
uncertainties and other factors, some beyond control and difficult
to predict. Therefore, outcomes may differ materially from these
statements. Do not place undue reliance on them. Unless legally
required, the Company undertakes no obligation to update publicly
any forward-looking statements, whether as a result of new
information, future events or otherwise. The Company disclaims
information created or distributed by any outside party and
endorses only its official Press Releases. Comments concerning
plans, filings, reports or other documents are limited in that
they may express opinions or be summaries of less
than all of
the information. Specific details concerning figures, including
footnotes, and other information are in more detailed reports with
the SEC.
Contact:
Ness Energy International, Inc.
Tina Sbriglia - Investor
Relations
(817) 341-1477 or info@nessenergy.com
Visit us on the web at http://www.nessenergy.com/