Ness Energy Gurim #4 Oil Well in Israel Proves to be
Successful
WILLOW PARK, TEXAS, U.S.A./NETANYA, ISRAEL: March 22,
2004, /MacReport-FirstCall/ -- Ness Energy International, Inc.
(OTC Bulletin Board: NESS) Ness announced today that the testing
of the Gurim #4 well, outside of Arad, Israel proved to be
successful in its attempt to prove that commercial production may
be established.
Busy Month
On February 29, 2004 Ness Energy of Israel, Inc. deployed its
company owned workover unit and rigged up over the Gurim #4 well
bore and began this historical workover operation. Historical in
the sense that, after years of hard work and countless trips made
by Ness management and its associates, physical, tangible Oil
& Gas operations took place with the results being positive
that oil could be produced from the Gurim #4 well.
"These are very exciting times for Ness Energy and its
shareholders. During the last few weeks, we have moved the rig
from The Port of Ashdod to Arad then onto the Gurim #4 location,
this the last week of February 2004. The first week of March was
busy in the final negotiations with XTO Energy, then on the 8th of
March, we signed our Partnership Agreement with XTO Energy to
develop our Parker County acreage. Now, along with all of the
other positive happenings like financing, acquisitions taking
place, and receiving positive results on the Gurim #4 test, is
like having your cake, eating it too and having some friends over
to share with." Mr. Stephens went on to add, "God is good."
Tests and Signatures
The test on the Gurim #4 consisted of reconfiguration of the
wellbore by pulling what pipe was in the well out and running in
with new tubing to a depth as to contact the zone of interest.
When this was completed, the rig went to "swabbing" on the
well, which is pulling fluid from the zone via tubing. "We
were able to pull oil and some water from the zone at a good rate
of entry. It was our surprise to find that the oil was light and
not the heavy oil we were expecting." Said Sha Stephens. He also
added, "Within the next 6 months we have to present a work plan to
the Minister of Oil. The work plan must be carried out within the
next 12 months. We anticipate being able to perform this work well
within the timeline."
The XTO Energy letter agreement, the terms of which will remain
confidential, was signed on the 8th of March, 2004. "This
partnership makes possible so many other projects and prospects
that we can now, and are now pursuing, and still at the same time,
get to work in our own backyard, this is truly a win/win deal."
exclaimed the Ness President. He went on to add, "keep looking and
watching, great things are happening and more are on the
horizon."
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.
(817)-341- 1477
world
wide web at
http://www.nessenergy.com/