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| | October 22, 2009
Cheetah Oil & Gas Ltd Announces Weather Delays Spud Date, Director Appointed
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| | VANCOUVER - (Business Wire)
Cheetah Oil & Gas Ltd. (OTC BB: COHG) (the "Company" or "Cheetah")
Drilling of the PPF-12-4 Well has been delayed due to unseasonable heavy rains of over 11 inches in the past 30 days. The Company intends to commence drilling at such time as the rig can be moved safely onto the lease. The Company intends to update shareholders at such time.
Cheetah is pleased to announce the appointment of Mr. Don Findlay to its Board of Directors.
Mr. Findlay is a seasoned Geologist with 20 years experience and has an extensive exploration and development background in Western Canada. Mr. Findlay is comfortable managing multi-disciplinary teams and working as a self directed Geologist to create and maximize value.
For the past five years Mr. Findlay has been retained in roles as a VP of Exploration or Exploration Manager and is currently the Exploration Manager of a public company that is currently producing in excess of 9,000 BOE/D.
About Cheetah Oil & Gas Ltd.
Cheetah Oil & Gas Ltd. is an oil & gas company active primarily in Mississippi, where it holds between 6.25% and 50% gross working interests in various gas and oil projects. Cheetah routinely evaluates additional resource projects and corporate opportunities.
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. Such forward-looking statements include but are not limited to, (1) the Company's intension to commence drilling at such time as the rig can be moved safely onto the lease and the Company's intension to update shareholders at such time. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, weather, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. Adverse weather conditions can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Current oil and gas production rates may not be sustainable and targeted production rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
CONTACT
Cheetah Oil & Gas Ltd.
Robert McAllister, 1-250-870-2219
www.cheetahoil.com |
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Historical Press Releases
This website contains historical and archived press releases for Cheetah Oil and Gas Ltd. The information in these press releases is historical in nature, has not been updated, and is current only to the date indicated in the particular press release. This information may no longer be accurate and therefore you should not rely on the information contained in these press releases. To the extent permitted by law, Cheetah Oil and Gas Ltd. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.
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