Ness Energy Announces
Successful Re-work Completion on the Gurim # 4 Well in Israel
WILLOW PARK, TEXAS,
U.S.A./NETANYA, ISRAEL,
June 23, 2006/PRNewswire-FirstCall/ -- Ness Energy International,
Inc. announced today that re-work operations have been
successful on the Gurim # 4 well, just east of Arad, at the
Southwest End of the Dead Sea.
The previous producing
interval, which was near the bottom of the Gurim formation, was
squeezed (cemented) and the new producing interval was
perforated in the top few feet of the formation. Production
testing that was completed this past week showed the well
capable of post re-work production starting at approximately
25-30 barrels of oil per day, with the potential of an increase
to more than 50 barrels per day. The oil that is produced from
the well is being tested for price and marketability. Talks have
begun with potential purchasers in the region regarding the
steady purchase of the produced oil. Once an agreement
is reached, the contract priced will be announced.
Ness Energy President Sha
Stephens commented, “This re-work, through our wholly owned
subsidiary Ness Energy of Israel, Inc., Modi’in Management and
the shareholders of Modi’in Energy Limited Partnership, is the
first success in a planned series of re-completions targeted at
establishing oil and gas production in Israel. Our next
objective will likely be to re-complete the Gurim # 5, a direct
offset to the Gurim #4, in a similar manner. The gross sales of
the oil at this point is not going to make us wealthy, by any
means - that was not our primary objective. Our goal at this
point was to establish Ness Energy as an oil and gas producer in
Israel. By doing this we continue to expand our base of
operations in Israel so that, when it is time to drill the well
that my dad spoke of, we will be ready. We believe this first
successful re-completion to be the beginning of a series of
successes for both Ness Energy, it’s shareholders and the people
of Israel.”
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. ‘The Vision’: 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 supernatural source of oil
and gas in Israel for The Nation of Israel and the Christian
communities”. Ness Energy is building at a high-speed pace
through Merger, Acquisitions, Drilling, Re-Work and Re-Entry.
Forward-Looking Statements
This news release includes
forward-looking statements. Actual results could differ
materially from those contemplated by such forward-looking
statements as a result of any number of factors and
uncertainties, many of which are beyond the control of the
company. Important factors that could cause actual results to
differ materially from those in such forward-looking statements
are enumerated in the company's registration statement filed
with the Securities and Exchange Commission. Undue reliance
should not be placed upon any forward-looking statements, and
the company undertakes no obligation to update those statements.
CONTACT:
Ness
Energy International, Inc.
Tina
Sbriglia – Investor Relations
(817)
341-1477 or info@nessenergy.com
Visit us
on the web at
www.nessenergy.com