Ness Energy Uses New Technology to Re-interpret Dated Seismic,
New Potential Reservoie Discovered in Israel
WILLOW PARK, TEXAS, U.S.A./NETANYA, ISRAEL, February 4,
2005 /PR Newswire-FirstCall/
Ness Energy International, Inc. continues to advance its vision
in Israel through Modi'in Ltd. Partnership. The shareholders
of Modi'in have voted in majority to allow an in depth study and
seismic survey to verify and define the recent discovery of a
potentially major oil and gas reservoir in Israel. Toward the end
of 2004, Ness reprocessed and reinterpreted old existing seismic
lines in the Zohar Petroleum Licence in Israel, which covers
approximately 45 sq km. The study employed a process using
advanced seismological technology known as "Multi-Focusing", a
patented process held by Geo-mage an Israeli company. The results
revealed a new major prospect extending the field causing it to be
much larger than previous studies indicated. "The discovery of the
extended field would not have been possible without the
technological advancements that the industry is now being able to
utilize to its benefit" said President Sha Stephens. The prospect
is situated North-North-East of the Ness / Modi'in Gurim structure
and shows favourable indications in the Jurassic and Triassic
formations. In order to evaluate the prospect completely, further
seismic exploration work is required. A 2D seismic study will be
initiated with lines being shot across the new potential
structure. The shoot will be composed of four short seismic lines
and re-interpreting two older lines covering about 20 sq km using
the Geo-mage process. The study and shoot will begin the early
part of the second quarter.
"We have been met with very favourable response from the
shareholders of Modi'in and expect this initial finding will be
the first step of seeing dad's Vision for the company come to
pass", says Sha Stephens. Hayseed Stephens, the visionary of Ness
Energy passed away May 15, 2003 "The Vision Continues.." Mr.
Stephens added.
ABOUT NESS-THE VISION
Ness Energy is an aggressive, emerging oil and gas company
building on deals that make sense. Ness Energy operates interests
in the Ft. Worth Basin and the Coastal Plains regions of Texas.
Ness is also a very active player in the energy industry in
Israel, carrying out the Vision of The Company. Ness Energy is
building at a high-speed pace through Merger, Acquisitions,
Drilling, Re-Work and Re-Entry.
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. Figures are estimates
or unaudited unless otherwise expressly noted and are subject to
final figures and footnote in financial filings with the SEC.
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.
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/