PRESS RELEASE: Cambridge Energy Corp. releases production numbers for its Indonesian production
Friday, February 23 2001 - 04:00 AM WIB
Cambridge Energy Corp., an oil and gas exploration and production company with producing properties in Louisiana and Indonesia, today announced production numbers from its Indonesian operations.
Its four fields on Irian Jaya in Indonesia produced 26,465 barrels of oil net to the Technical Assistance Contract or "shareable oil'', which was marketed at an average price for the Quarter of $32.80 per barrel for a total of $807,484.
"For the Quarter, Indonesian operations continued to be a strong component of our operations and was additionally aided by continued higher energy prices,'' said Perry West, CEO of Cambridge Energy Corp.
Cambridge Energy Corp. is engaged in the acquisition, development and operation of producing oil and natural gas properties with proven reserves. Further information can be found at the company's Web site: http://www.cambridgeenergy.com.
Contact: Cambridge Energy Corp., Jonathan Bates, 888/285-5677, www.cambridgeenergy.com; or Magnum Financial Group, Michael Manahan, 213/488-0443, mike@magnumfinancial.com (*)