EOR Announces Approval of St. Johns Helium/CO2 Unit in Arizona.



    HOUSTON, April 16 /CNW/ - Enhanced Oil Resources, Inc. (TSX-V: EOR)
announces that it has received conditional approval for the formation of the
St Johns Gas Unit, a 171,000 acre unit, located in Apache County, Arizona.
    The Unit Agreement calls for the orderly development of the Unit area
over a 5 year period and includes a minimum work program of 5 wells over the
next 12 months. Ridgeway Arizona Oil Corp has been designated as the Unit
Operator and currently has an estimated 84% working interest ownership in the
Unit. Participation in the Unit is voluntary and parties may join on their own
volition.
    The approval of the Unit Agreement is subject to the final sanction by
the federal government and review and approval by the State Land Commissioner
of any substantive changes recommended by the federal government.
    Chief Executive Officer Barry Lasker stated "The Order approving the St
Johns Unit Agreement by the State of Arizona is a significant milestone in
moving us further along to developing the St Johns resource. This is the first
Unit Agreement of its kind in the State of Arizona and has reached its
conclusion through many hours of discussion and collaboration between
Ridgeway, its lawyers and consultants and members of the Arizona State Land
Department. We look forward to working with the State Land Department, land
owners and other interested parties as we move forward with the project."

    
    About Enhanced Oil Resources Inc.
    ---------------------------------

    Enhanced Oil Resources Inc. is an early-stage company, with two principal
business segments of

    (i)  Crude oil and natural gas production through enhanced oil recovery
         ("EOR") projects it is initiating in the Permian Basin on oil fields
         acquired by the Company in 2007 and 2008 for that purpose.

    (ii) Helium and CO(2) resource exploration and production through
         property interests it controls in approximately 251,000 gross acres
         of land within the St Johns Helium/CO(2) field in Arizona and New
         Mexico, and where the Company is developing what is thought to be
         the largest undeveloped helium and carbon dioxide field in North
         America.

    Forward-Looking Statement
    -------------------------
    

    Certain statements contained herein are forward-looking statements,
including statements relating to Enhanced Oil Resources' operations; business
prospects, expansion plans and strategies. Forward-looking information
typically contains statements with words such as "intends," "anticipate,"
"estimate," "expect," "potential," "could," "plan" or similar words suggesting
future outcomes. Readers are cautioned not to place undue reliance on
forward-looking information because it is possible that expectations,
predictions, forecasts, projections and other forms of forward-looking
information will not be achieved by Enhanced Oil Resources. By its nature,
forward-looking information involves numerous assumptions, inherent risks and
uncertainties. A change in any one of these factors could cause actual events
or results to differ materially from those projected in the forward-looking
information. Although Enhanced Oil Resources believes that the expectations
reflected in such forward-looking statements are reasonable, Enhanced Oil
Resources can give no assurance that such expectations will prove to be
correct. Forward-looking statements are based on current expectations,
estimates and projections that involve a number of risks and uncertainties
which could cause actual results to differ materially from those anticipated
by Enhanced Oil Resources and described in the forward-looking statements or
information. The forward-looking statements are based on a number of
assumptions which may prove to be incorrect. Readers should be aware that the
list of factors, risks and uncertainties set forth above are not exhaustive.
Readers should refer to Enhanced Oil Resources' current filings, which are
available at www.sedar.com, for a detailed discussion of these factors, risks
and uncertainties. The forward-looking statements or information contained in
this news release are made as of the date hereof and Enhanced Oil Resources
undertakes no obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information, future
events or otherwise, unless so required by applicable laws or regulatory
policies.

    
    ON BEHALF OF THE BOARD OF DIRECTORS

    (signed)
    Barry D Lasker, CEO

    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    

    %SEDAR: 00004538E




For further information:

For further information: visit our Website at www.enhancedoilres.com. or
please call Don Currie on 1-888-990-3551

Organization Profile

Enhanced Oil Resources Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890