ALBUQUERQUE, NM--(Marketwired - Jun 14, 2013) - Homeland Resources Ltd. (OTCQB: HMLA), an emerging oil and gas exploration and production company, today provided this update regarding the multi-well Phase-1 drill program currently being undertaken by the Company and its partners at the Liberty Ridge oil and gas project in Oklahoma. <\/p>\n
The Company anticipates that drilling will commence on Phase-1 well #2 during the last week of June. Additionally, the operator at Liberty Ridge is working out the details of potentially bringing on a second rig in order to accelerate the drilling process. A second rig would allow the spudding of Phase-1 well #3 at the end of the month or in early July. Specific information and details regarding future wells and spud dates will be announced shortly when confirmed by the Operator. <\/p>\n
The initial exploration target of the eight well Phase-1 program was recently drilled to a total projected depth of approximately 5,650 feet targeting multiple potential hydrocarbon pay zones. The initial well encountered several of the potential pay zone horizons as projected by historic production in the region and proprietary 3D seismic, but it was determined by the operating partner that the well was non-commercial and would be plugged and abandoned. The Company remains extremely positive about the near and long term potential of the Liberty Ridge project, our proprietary 3D seismic database, and our operating partner's outstanding exploration track record in the area. <\/p>\n
The Liberty Ridge project is a multi-well multi-phase exploration drill program currently being conducted by Homeland and it partners. The Phase-1 drilling program at Liberty Ridge consists of eight (8) wells selected from at least 34 distinct high-graded prospects generated by the partnership's proprietary 3D seismic database covering the entire 83,043 acres (130 square miles) project area. Drilling at the Liberty Ridge project is expected to continue throughout 2013-2014. <\/p>\n
For more information about Homeland Resources including their oil and gas projects, visit http:\/\/www.homelandresources.com<\/a>. Stay current on all available information regarding Homeland and the energy sector by connecting with them on their social platforms: <\/p>\n About Homeland Resources <\/p>\n Homeland Resources Ltd. (OTCQB: HMLA) is a performance-driven exploration and production company focused on developing relatively low-risk North American natural gas reserves. Homeland's current focus is on the continued exploration and development of their property portfolio comprised of working interests in the Smoky Hill Project (5% interest) and the Liberty Ridge Project (5% interest) in Oklahoma. Homeland Resources is also seeking to expand their portfolio to include additional interests in North America. For more information on HMLA, please visit http:\/\/www.homelandresources.com<\/a>. <\/p>\n Notice Regarding Forward-Looking Statements: Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments.Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. <\/p>\n <\/p>\n Link: <\/p>\n Homeland Resources Provides Exploration Update at Liberty Ridge Project in Oklahoma<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" ALBUQUERQUE, NM--(Marketwired - Jun 14, 2013) - Homeland Resources Ltd. (OTCQB: HMLA), an emerging oil and gas exploration and production company, today provided this update regarding the multi-well Phase-1 drill program currently being undertaken by the Company and its partners at the Liberty Ridge oil and gas project in Oklahoma. The Company anticipates that drilling will commence on Phase-1 well #2 during the last week of June Continue reading