Attached files
EXHIBIT 99.1
HINTO ENERGY
HINTO ENERGY, INC. ANNOUNCES DRILLING OF NEW OIL WELL IN OHIO
DENVER, CO, DECEMBER 23, 2014, HINTO ENERGY, INC. (OTCQB: HENI), engaged in the
exploration, acquisition, and development of oil and gas properties, with
producing wells in Utah and Montana, today announced the Company has drilled a
new well in Ohio, located on the Appalachian geosyncline which includes both the
Berea Sands and the Ohio shale stratigraphic levels.
"We continue to look at exploration and production opportunities that deliver
positive results even at current oil and gas prices. We believe this new well
provides such an opportunity," stated George Harris, the Chief Executive Officer
of the Company.
"While drilling the well, the well kicked off and produced 20 plus barrels of
oil in approximately 15 minutes and natural gas at an estimated rate of 250,000
cubic feet per day", said the field operator. "The well should be placed on
production in early January, following installation of oil tanks and pumping
unit."
"This area of Ohio has had a lengthy history of production with multiple
producing zones at shallow depths, which is why we plan on initially drilling
down into the Berea Sandstone, which has been a long term producer at 400 to 600
feet. We will use additional geological and geophysical analysis to evaluate
deeper prospective targets in the Ohio shale, Clinton, Utica shale, Trenton and
Trempealeau formations," Harris continued.
Hinto will retain a 75% non-operated interest in this initial well, after
payout, and 75% of any future wells developed on this property and is
considering the use of 3D seismic to target higher value prospects. Hinto has
established a 36 square mile AMI (area of mutual interest) with the operator,
which could provide for additional drilling opportunities.
Hinto Energy, Inc. is involved in the acquisition, production, development and
exploration of Oil and Natural Gas properties in the Rocky Mountain Basins. The
Company is actively seeking to acquire producing oil and natural gas properties
that offer long term production opportunities and proven oil and natural gas
reserves. The Company employs state-of-the-art technology for reservoir
characterization, to discover by-passed reserves, and to evaluate unexploited
resources utilizing modern horizontal drilling techniques. For more information
visit www.hintoenergy.com.
NOTICE REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements within the
meaning of Section 27a of the Securities Act of 1933, as amended, and Section
21e of the Securities Exchange Act of 1934, as amended. Investors are cautioned
that such forward-looking statements involve risks and uncertainties, which
include among others, the inherent uncertainties associated with petroleum
exploration and development stage exploration companies including without
limitation, other risks detailed from time to time in the Company's periodic
reports filed with the Securities and Exchange Commission.
5350 S. Roslyn Street, Suite 400, Greenwood Village, Colorado 80111
Tel: (303) 647-4842 Fax: (303) 848-8353
www.hintoenergy.com
HINTO ENERGY
Contact Information:
Hinto Energy, Inc. Hanover Financial Services
Gary Herick, Vice President - Finance Ronald J. Blekicki - President/CEO
5350 S. Roslyn Street (303) 494-3617
Greenwood Village, CO 80111 http://www.hanoverfinancialservices.com
(303) 647-4850
www.hintoenergy.com
5350 S. Roslyn Street, Suite 400, Greenwood Village, Colorado 80111
Tel: (303) 647-4842 Fax: (303) 848-8353
www.hintoenergy.co