Listed: TSX Venture Exchange (Symbol: RGW)
HOUSTON, TX, June 7 /CNW/ - Ridgeway Petroleum Corp. (the "Company") is
pleased to announce that, as of the opening of trading on Monday, June 11th,
2007, the name of the Company will be changed to "Enhanced Oil Resources,
Inc." The Company's trading symbol will be "EOR".
Mr Barry Lasker reports "As the Company moves forward with the
implementation of its business plan the Board of Directors felt that the time
was right for a name that accurately reflected the Company's strategic focus
of Carbon Dioxide (CO2) delivery and Enhanced Oil Recovery (EOR) production in
the Permian Basin. The Name of Enhanced Oil Resources Inc. and the associated
trading symbol of "EOR" clearly articulate the Company's growth objectives
moving forward. In line with the new name the Company is in the process of
developing a new website that is expected to be up and running soon."
Ridgeway Petroleum (soon to be renamed Enhanced Oil Resources, Inc.) is a
development stage EOR company that controls approximately 200,000 acres of
land within the St Johns Helium/CO2 field in Arizona and New Mexico where the
Company is developing what is thought to be the largest undeveloped resource
of helium and carbon dioxide gases in North America. Independent engineering
firms have estimated that the St Johns field contains approximately 15
trillion cubic feet of in place resources, with a potential recoverable
resource of 5 trillion cubic feet. Development of the project could result in
the Company becoming one of North America's largest CO2 suppliers and EOR
producers. The Company's strategic focus for CO2 delivery and EOR production
is the Permian Basin where significant potential exists for enhanced oil
recovery from mature, depleted oil fields.
ON BEHALF OF THE BOARD OF DIRECTORS
Barry D Lasker, CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: visit our Website at
www.ridgewaypetroleum.com., or please call Don Currie on 1-888-990-3551