VANCOUVER, BRITISH COLUMBIA -- 07/08/08 --
General Gas Corporation (the "Company") is pleased to announce that, on June 5, 2008, the Company acquired a 10% working interest from NewTech Resources, LLC in the Chevron Fee #3 Well (the "Well") located in Marion County, Texas in exchange for $25,000.00. Under the terms of the Acquisition Agreement, the operator of the Well's rework program will be OilTec LP ("OTP"). The Well is already producing to a depth of 6400 feet.
The rework program being conducted by OTP shall include equipping well sites, electrifying the lease, installation and laying of water and production lines on the lease deepen wells to alternative zones for the enhancement of the lease production or the disposal or injection of water.
The necessary tubing has arrived on site, and the Well is now completely electrified. The work-over rig has also arrived, enabling the well to be on-line shortly.
About General Gas Corporation (www.generalgascorp.net)
General Gas Corporation strives to acquire interests in the properties of, and working interests in the production owned by, established oil and gas production companies, whether public or private, in oil producing areas of the United States. We believe such opportunities exist in the United States. We also believe that these opportunities have considerable future potential for the development of additional oil reserves. Such new reserves might come from the development of existing but as yet undeveloped reserves as well as from future success in exploration. When and if funding becomes available, we plan to acquire high-quality oil and gas properties, primarily proven producing and proven undeveloped reserves. We will also explore low-risk development drilling and work-over opportunities with experienced, well-established operators.
On Behalf of the Board of Directors
Harry Lappa, President
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This news release contains forward-looking information 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, including statements that include the words "believes", "expects", "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Contacts:
General Gas Corporation
Harry Lappa
President
(702) 664-2111
Email: info@generalgascorp.net
Website: www.generalgascorp.net
