/NOT FOR DISTRIBUTION IN THE U.S./
CALGARY, April 17 /CNW/ - Larry Darling, Calgary oil patch veteran and
CEO of DAR Energy is back in a substantial way with the announcement of a new
water flood oil project in Kimball County, Nebraska that has the potential to
produce 1.2 million barrels. The field is located in southwestern Nebraska,
approximately 100 miles northeast of Denver, Colorado.
"This oil field produced almost two million barrels of primary oil from
the 1950s to the 1990s," says Darling. "Over the last 10 years we have been
waiting for the opportune time to start leasing the lands, a process we
commenced last year." He added, "There have been more than 250 successful
water floods in the Denver-Julesburg Basin. Statistically, our flood should
produce an additional 1.2 million barrels."
As for next steps, Darling explained, "We are currently raising the funds
to drill a minimum of four new producing wells in 2007 as well as install
water flood facilities to produce the secondary oil. Drilling is expected to
start in July of this year."
Darling was also clear that following the drilling of its Nebraska and
another oil property in Alberta, DAR Energy's management team could be looking
for a merger with a publicly listed company to fully develop the oil fields."
Larry Darling is a recognized oil patch entrepreneur. He is a former CEO
of four successful oil and gas companies during his 45 years in the business.
About DAR Energy Inc.
DAR Energy Inc. is a privately held oil and gas company that owns seven
oil and gas properties in Alberta and Nebraska. The company was founded in
2004 by veteran oil and gas entrepreneur Larry Darling who has been the CEO of
four successful oil and gas corporations over the past four decades. To learn
more about DAR Energy, please visit www.darenergy.com
For further information:
For further information: Mr. Larry Darling, CEO, DAR Energy, (403)
265-7170, firstname.lastname@example.org; Mr. Ron Edgar, VP Sales and Marketing, DAR
Energy, (403) 399-0840, email@example.com; Mr. Neil Bousquet, APR, PR,
DAR Energy, (403) 256-8834, firstname.lastname@example.org