TORTOLA, British Virgin Islands — Orca Exploration Group Inc (“Orca”) announces that the Company has had approval from Songas Limited to increase the capacity of the gas processing plant from 70 MMscfd to 90 MMscfd. This will facilitate the growth in the Company’s Additional Gas sales volumes in 2009.
In February 2009, Lloyds Register certified the two gas processing trains at 45 MMscfd each after Orca, as operator, had successfully installed two new Joule-Thompson valves and performed the necessary process modifications. Each of the trains was tested to 55 MMscfd and Lloyds Register may yet certify the plant at 110 MMscfd following a successful inspection of the gas heat exchangers later in 2009. However, further approval would be required from Songas to operate at capacity above 90 MMscfd.
Forward Looking Statements
This disclosure contains certain
forward-looking estimates that involve substantial known and unknown
risks and uncertainties, certain of which are beyond Orca Exploration’s
control, including the impact of general economic conditions in the
areas in which Orca Exploration operates, civil unrest, industry
conditions, changes in laws and regulations including the adoption of
new environmental laws and regulations and changes in how they are
interpreted and enforced, increased competition, the lack of
availability of qualified personnel or management, fluctuations in
commodity prices, foreign exchange or interest rates, stock market
volatility and obtaining required approvals of regulatory authorities.
In addition there are risks and uncertainties associated with oil and
gas operations, therefore Orca Exploration’s actual results, performance
or achievement could differ materially from those expressed in, or
implied by, these forward-looking estimates and, accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking estimates will transpire or occur, or if any of them do
so, what benefits, including the amounts of proceeds, that Orca
Exploration will derive therefrom.
For further information please contact:
Nigel A Friend, CFO
+255 (0)22 2138737
wdlyons@orcaenergygroup.com