QUITMAN, Texas, May 09, 2018 (GLOBE NEWSWIRE) -- Northern Minerals & Exploration Ltd. (Stock Symbol:NMEX) is pleased to make the following announcements:
NMEX Files Quarterly 10Q
On May 7, 2018, NMEX filed its Quarterly Report on Form 10Q with the Securities and Exchange Commission (“SEC”) for the quarter ended October 31, 2017. NMEX is now in the process of completing its quarterly filings for the quarter ending January 31,2018.
The filing of the January 31, 2018 quarterly report on Form 10Q is projected to be complete within the next couple of weeks, which will cause NMEX to be current and up to date with its SEC filings.
Kathis Energy Drilling Fund I
NMEX is pleased to announce its wholly owned subsidiary, Kathis Energy LLC (“Kathis”), has staked two wells on the Guy Ranch and one well on the Olson Leases. The first well to be drilled will be the Kathis Guy Ranch 89 # 1 to approximately 3,900 feet deep.
This drilling of the Kathis Guy Ranch 89 # 1 is in a multiple pay zone area. The following productive pay zone formations will be evaluated during the drilling of this well:
Flippen Sand @ 1,600’
Cook Sand @ 1,750’
Patio Sand @ 3,100’
Morris Sand @ 3,400’
Gardner Sand @ 3,900’
The principle objectives are the Patio, Morris and Gardner pay zones. The drilling location is on a structural nose keying off of a Patio Sand well that came in at 140 barrels per day. Due north of our location is a well completed in the Gardner zone that has produced more than 100,000 barrels of oil and to the southeast is a Morris well that produced 1.4 BCF of natural gas.
Ivan Webb, Vice President, was on the Guy Ranch lease when the wells were staked out and stated, “I was impressed with the geology and mapping of this drilling prospect and am even more impressed by being physically on its location. You cannot help but feel like you are in an oil/gas field.” Webb further reported that drilling is planned to begin during the latter part of this month.
Kathis Drilling Fund I consist of drilling 8 wells. In addition to the wells mentioned above the program has four wells in Runnels County to be drilled that are also in a multiple pay area with impressive cumulative production numbers.
Kathis has Upstream Oil & Gas Investment Opportunities for the Family Office, Registered Investment Advisor (RIA), Wealth Management Firms and Accredited Investors for Drilling Conventional wells in Proven Oil Fields.
For more information about the Kathis Drilling Program and its Team go to website www.kathisenergy.com
NMEX is an emerging resort development & oil and gas exploration and development company focused on both domestic and international projects.
For further information the Company’s website is www.nmex.us or the Company’s filings at www.otcmarkets.com.
Contact: Roger Autrey
Phone: 512-784-7828
Email: roger.autrey@sbcglobal.net
Forward Looking Statements: Statements which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers’ preferences and trends. The words “estimate,” “possible,” “seeking,” and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. The information herein is subject to change without notice. Northern Minerals & Exploration Ltd. shall not be liable for technical or editorial errors or omissions contained herein.