HOUSTON, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Alpha Energy, Inc. (OTC.PK - APHE) ("Alpha") is pleased to announce that on September 10, 2021, its wholly owned subsidiary Alpha Energy Texas Operating LLC was granted Operator Status in the State of Oklahoma by the Oil and Gas Conservation Division of the Oklahoma Corporation Commission. This action included filing a bond in the amount of $25,000US. Alpha Energy Texas Operating LLC has been assigned Operator Number 24640.
According to John Lepin, Chairman of the Board and Chief Financial Officer of Alpha Energy, “This is an important occasion for Alpha Energy. It will permit us to operate wells and other oil and gas properties in the State of Oklahoma, including wells that are earmarked to be transferred to Alpha’s ownership under the Logan 1 Project agreement terms. We were able to secure favorable bond status under the existing State bond requirements and hope to be grandfathered in under the updated regulations currently making their way through the state legislature.”
Alpha Energy, Inc. is a Houston, Texas based, independent energy company engaged in the acquisition, exploration, development and production of crude oil and natural gas. Additional information is available on the Company's website at www.alpha-energy.us.
This press release contains forward-looking statements regarding Alpha Energy that are intended to be covered by the safe harbor "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995, based on Alpha’s current expectations and includes statements regarding acquisitions and divestitures, estimates of future production, future results of operations, quality and nature of the asset base, the assumptions upon which estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements about future events or performance (often, but not always, using words such as "expects", "projects", "anticipates", "plans", "estimates", "potential", "possible", "probable", or "intends", or stating that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved). Statements concerning oil and gas reserves also may be deemed to be forward looking statements in that they reflect estimates based on certain assumptions that the resources involved can be economically exploited. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those, reflected in the statements. These risks include, but are not limited to: the risks of the oil and gas industry (for example, operational risks in exploring for, developing and producing crude oil and natural gas; risks and uncertainties involving geology of oil and gas deposits; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to future production, costs and expenses; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; uncertainties as to the availability and cost of financing; fluctuations in oil and gas prices; risks associated with derivative positions; inability to realize expected value from acquisitions, inability of our management team to execute its plans to meet its goals, shortages of drilling equipment, oil field personnel and services, unavailability of gathering systems, pipelines and processing facilities and the possibility that government policies maychange or governmental approvals may be delayed or withheld. Additional information on these and other factors which could affect Alpha's operations or financial results are included in Alpha's other reports on file with the Securities and Exchange Commission. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Alpha does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change. Initial production rates are subject to decline over time and should not be regarded as reflective of sustained production levels.
CONTACT: For more information contact John Lepin at email@example.com.
© 2021 GlobeNewswire, Inc. All Rights Reserved.