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Silver Star Updates North Franklin Pipeline Tie-In Permit -- Final Construction to Commence Shortly
Monday January 31, 8:30 am ET
LOS ANGELES, CA--(MARKET WIRE)--Jan 31, 2005 -- Silver Star Energy, Inc. (OTC BB:SVSE.OB - News) today reports that the Company President has been informed by the office of the Congressional Representative from the Third District of California that he has had confirmation from the office of the Secretary of the Interior and the U.S. Fish and Wildlife that the final government permit covering the easement over the last 177' of pipeline will be posted in the Federal Register on February 2, 2005.
Upon these final requirements being completed, the Company is planning, along with its North Franklin Project partners, to immediately tie-in the "Archer-Whitney #1" well, thus bringing this lengthy delay of the permitting and construction of the pipeline to a close.
Silver Star has previously announced that a contract is in place with a natural gas purchaser. When final connection and tie-in is shortly completed, the well will be evaluated as to I.P.R.'s (Initial Production Rates). Silver Star is optimistic that gas flow rates will be similar to area analog gas fields and that 5,000 mcf/day is a realistic target. Gas prices are based on PG&E-Citygate pricing which was priced on January 28th at $6.04/mcf.
ABOUT SILVER STAR ENERGY, INC.
The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high-quality, low-risk prospects provided via key strategic alliance partnerships.
Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve 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. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Silver Star Energy, Inc. has little or no control.
ON BEHALF OF THE BOARD
Silver Star Energy.
"Robert McIntosh"
_________________________
Robert McIntosh-President
To find out more about Silver Star Energy, Inc. (OTC BB:SVSE.OB - News), visit our website at
www.silverstarenergy.com.
Contact:
Contact:
1-888-803-SVSE (7873)
Silver Star Energy, Inc.
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Source: Silver Star Energy, Inc