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Thursday, June 26, 2008
EESV's Investment in Blaze Energy Shows Positive Results
Comtex
BOISE, ID, Jun 26, 2008 (MARKET WIRE via COMTEX) ----Environmental Energy Services, Inc. (PINKSHEETS: EESV), an independent oil and gas exploration and production company, announced today that it is seeing tangible, positive results from its investment in Blaze Energy Corporation (PINKSHEETS: BLZE).
"We took a calculated risk when we invested in Blaze Energy, we had the vision as a management team of the potential that Blaze Energy could add to our portfolio," said A. Leon Blaser, CEO of EESV. "We are very pleased and excited to see the production and results from this asset. 79 wells are in contract, 44 wells are either drilled or are currently being drilled and 31 wells are producing and selling gas."
Blaze participates in over 45,000 gross acres of exploration and development in the Fayetteville Shale. The management team at EESV believes that the Fayetteville Shale field represents one of the most promising gas finds in the United States. EESV has more than 70% ownership of Blaze Energy.
About Environmental Energy Services, Inc. (EESV)
Environmental Energy Services, Inc. (PINKSHEETS: EESV) is an independent oil and gas exploration and production company. It combines cutting-edge technology and research to acquire hydrocarbon energy resources for development and production. Headquartered in Boise, Idaho, EESV through its various holdings and subsidiaries participates in projects and controls resources throughout North America. To learn more about EESV, please visit www.eesvinc.com.
About Blaze Energy
Blaze Energy Corp. (PINKSHEETS: BLZE) is a natural gas exploration and production company. Blaze Energy Corp. is primarily engaged in the Fayetteville Shale gas project in Arkansas, through working interest it owns in acreage blocks in Van Buren, Cleburne and Conway counties. Blaze Energy Corp. is a majority-owned subsidiary of Environmental Energy Services, Inc. (PINKSHEETS: EESV). For more information please visit www.blazeenergy.net.
This press release includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to matters such as prospects, anticipated operating and financial performance. Actual prospects and performance may differ from anticipated results due to economic conditions and other risks, uncertainties and circumstances partly or totally outside the control of the company, including risks of production variances from expectations, market volatility, the level of capital expenditures required to fund ongoing drilling initiatives and the ability of the company to execute its business strategy. These and other risks are described in the company's reports filed with the United States Securities and Exchange Commission. These forward-looking statements are made only as of the date of this communication and both EESV and BLZE undertake no obligations to update or revise these forward-looking statements.
Media and Investor Contact: Ann Norman Cole Norman Communications +1-917-546-9268 acole@normancommunications.com
SOURCE: Environmental Energy Services, Inc.
mailto:acole@normancommunications.com
Copyright 2008 Market Wire, All rights reserved.
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No, it's not a dance craze. Contago is a condition of supply and demand, essentially a fancy word to say that prices for items, typically commodities, are cheaper now than they would be at some point down the line.
Anything that¿s sold in the futures market can be in a case of contango. Futures are exactly that: a contract to buy an item or asset at a price in the future. This is the case with oil, with traders buying and selling contracts to acquire a barrel of oil in months down the line. When a market is in contango, spot prices, or the price of a commodity if you were to buy it right now, are lower than forward prices.
Why is that important? Well, it usually tells you the supply of a given commodity is plentiful (since, according to Economics 101, a large supply usually leads to cheap prices).
Incidentally, if you think contango is a mouthful, its opposite condition is known by the equally tongue-tying term backwardation.
