Tuesday, September 23, 2008

Woodford Shale - EPM Evolution Petroleum Gives Update 9/23/08

EPM Evolution Petroleum is out with their latest Woodford Shale Update below. You've probably noticed but my blog has been semi quiet. Ever since the fall of natural gas prices from $14 to $7....news on these shale plays such as the Haynesville Shale, Marcellus Shale, Fayetteville Shale has fallen off a cliff. The natural gas gold rush has subsided for now, but it will be back. Now is the time to buy stocks like Chesapeake Energy ( CHK ) and Encana ( ECA ).

"As previously announced, our 2009 capital budget includes initialdrilling in our Woodford Shale projects in Oklahoma and initial drilling in anew project in Texas, both expected to occur late in the fiscal year," addedHerlin. "The 2009 capital budget also provides for up to $3 million in newleasing in the Giddings Field, our Oklahoma gas shale projects and our newTexas project. We have now acquired leases on more than 17,600 net acres inOklahoma and are very encouraged by the drilling results of operators alsodeveloping the shallow and mid-depth Woodford Shale near our leases."