FARMINGTON, N.M., Dec. 6, 2006 (PRIME NEWSWIRE) -- WW Energy Inc. (Pink Sheets:WWNG) subsidiary WW Oil and Gas Inc. has been granted full operational rights of the recently acquired oil wells located in Oklahoma. This is a significant and strategic step as the Company begins the re-completion of the wells. Of the 32 wells, 2 are completed and producing. WW Oil and Gas will implement the newly purchased oil rig and equipment to commence re-completion of the remaining 30 wells. The equipment will cut costs and should expedite production. The Company will report on progress from the Oklahoma Oil Fields as it becomes available.
WW Energy Inc. is a holding company that was created to acquire oil and gas service companies as well as oil and gas-related assets through two wholly owned subsidiaries.
WW Oil & Gas Inc., established in 2005, is in the business of acquiring leases and oil and gas-related assets. Such acquisitions are for the purposes of development, exploration, and exploitation. The company currently has exploitation projects in Texas, Utah, Oklahoma and New Mexico. Comprehensive drill programs are being developed for full exploitation of these projects.
WW Trucking Inc., formed in 1999, is a leading oil and gas services company for the oil field services industry in Utah, Colorado, New Mexico and Arizona (The Four Corners Area). Their existing business operations are in transporting fresh production water for oil drilling/exploration and waste water for disposal. They also provide services for heavy hauling of drilling and well equipment needed in the oil and gas production and exploration industry.
Forward-looking statements
A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results WW Energy Inc. may achieve could differ materially from any forward-looking statements due to such risks and uncertainties, including but not limited to, the fact that no assurance can be given that any proposed acquisitions will be consummated at all.