Ness Energy Milestone Production Levels in Domestic
Operations; New Leases, and Imminent News Pending Regarding XTO
Energy Transaction
WILLOW PARK, TEXAS, U.S.A./NETANYA, ISRAEL: April 1, 2004
MacReport-FirstCall/ -- Ness Energy International, Inc. (OTC
Bulletin Board: NESS) announced results from Texas operations have
increased gas production to new levels and new leases are being
acquired. Additional news also pending regarding XTO Energy
transaction.
New Production Levels and New Leases
According to President Sha Stephens, senior Management of Ness
Energy, Ness of Texas operations are now at the highest, in terms
of commercial production, in Ness history. Though not major by
industry standards, Ness of Texas efforts move forward to build
the Company with sensible oil and gas production, workovers, and
acquisitions supplying commercial production into the pipeline. He
stated, "Aggressive leasing by Ness Energy the past few months has
put us in the driver's seat of several new prospects, including
the opportunity to add billions of cubic feet of gas into our
reserve column." Ness, along with its producing wells, continues
to acquire lease rights for additional well opportunities.
Ness Energy New Outlook In Full
Swing
Ness Energy took an aggressive posture to build shareholder
value and cash flow by implementing its New Outlook in June, 2003,
which in part, calls for creation of cash flow domestically to
support the realization of the company Vision, to bless Israel and
others with a source of oil and gas.
By reworking several Ness existing, but shut in, well bores,
Management has now been able to prove up that even a modest amount
of Ness oil and gas acreage has tremendous potential value.
Increased gas production and sales, any place on these leases,
makes the potential of substantial production greater than ever
before, once Ness can fully explore the potential of its portfolio
with drilling new infill wells. [Note: "Shut in" wells are
existing wells that have been previously capped and "infill" wells
are wells done into areas between existing wells which may still
contain resources.]
President Sha Stephens explained, "We have only worked on a few
of the leases Ness owns, but have seen very good return vs. the
dollars spent. If we are able to keep up the investment vs. return
pattern we have experienced, Ness projects significant cash flow
to help accomplish the task ahead of us, our Israeli Vision, much
sooner than expected. Ness has been supplied an independent
engineering report which discloses Ness Energy's oil and gas
reserves have grown significantly (further news on the report to
be issued shortly). Simultaneously, sales have increased creating
cash flow to supplement Ness's forward working plan of expansion
into new areas of exploration, development and continued growth as
a company."
Leases and XTO Energy
The Company is also in the process of adding additional lease
interests to its acreage portfolio, building value to the Company
with new property interests for future exploration and development
activities.
The Company also continues to proceed with the XTO Energy
transaction and expects to close shortly with news to be released
concerning closing plans as they are finalized.
Additional news concerning these matters with details to be
released this week.
About Ness-The Vision
The current business of Ness Energy is development and
execution of oil and gas exploration, property acquisition and
corporate merger prospects. The Company is primarily pursuing
interests in the petroleum rich State of Texas, and also in the
Middle East, specifically, Israel. Ness believes that 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 to supply Israel and the Christian communities
with supernatural wealth. In the meantime, we continue to build a
strong Company on assets, cash flow and deals that make sense.
Certain Information
Certain statements in this news release may contain
forward-looking information and are based on Management's current
expectations, estimates and projections subject to change. Words
such as "anticipates," "expects," "intends," "plans," "targets,"
"projects," "believes," "seeks," "estimates" and similar
expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and
other factors, some of which are beyond our control and are
difficult to predict. Therefore, actual outcomes and results may
differ materially from what is expressed or forecasted in such
forward-looking statements. You should not place undue reliance on
these forward-looking statements. 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 any
information that is created or distributed by any outside party
and endorses only information that is communicated by its official
Press Releases.
Contact Information:
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/