Daybreak Announces Operational Update at Its East Slopes Project, Kern County California
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Daybreak Announces Operational Update at Its East Slopes Project, Kern County
California
SPOKANE, Wash., Oct. 29 /PRNewswire-FirstCall/ -- Daybreak Oil and Gas, Inc.,
(OTC Bulletin Board: DBRM) ("Daybreak" or the "Company") a Washington
Corporation, is pleased to announce the following operational updates for its
East Slopes Project in the San Joaquin Valley in California.
Construction Update
The Company's production facilities at its East Slopes Project in Kern County,
California has been substantially completed. Some electrical work is
remaining, but the facilities are operational. The oil from the Company's
Sunday and Bear locations will be produced into this central facility.
Drilling Update
The Company plans to begin its development drilling program at its Bear
location in its East Slopes Project in Kern County, California during November
2009, with several wells expected to be drilled before year-end. Several
exploration wells are also being planned and will be drilled in the upcoming
months.
James F. Westmoreland, President and Chief Executive Officer stated, "Getting
the production facilities completed is a major milestone in the development of
our Sunday and Bear locations. The ability to process our own oil at these
facilities will substantially lower our operating cost now that we do not have
to rely on rental equipment and temporary electrical power. We will also be
able to continue the development of the Sunday and Bear locations now that we
can process and store the additional production. This event will pave the way
for us to get closer to profitability."
Daybreak Oil and Gas, Inc. is an independent oil and gas company engaged in
the exploration, development and production of oil and gas, with participating
interests in projects located in California and Alabama.
For more information about Daybreak Oil and Gas, Inc., please visit its
website at www.daybreakoilandgas.com.
"Safe Harbor" Statement under Private Securities Litigation Reform Act of
1995: Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Information contained herein contains "forward-looking statements"
which can be identified by the use of forward-looking terminology such as
"believe", "expect", "may", "should", "up to", "approximately", "likely", or
"anticipates" or the negative thereof or given that the future results covered
by such forward looking statements will be achieved. Such forward-looking
statements involve a number of known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements
of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements.
SOURCE Daybreak Oil and Gas, Inc.
Investor Relations, Ed Capko of Daybreak Oil and Gas, Inc., +1-815-942-2581,
edc@daybreakoilandgas.com
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