POST FALLS, Idaho. – March 15, 2010 - JayHawk Energy, Inc. (OTCBB: JYHW) announced that it has completed the drilling portion, and reached a total depth of 6370 feet, on the first of the Company’s two vertical wells of its previously announced development drilling program in the Crosby field located in Divide County, North Dakota.
The Company reports that this initial well will be immediately cased for production and completion operations will begin once the casing has been set and the drilling rig has been moved to the site of the Company’s second drilling location; Jenks #1. Additional information will be announced once full evaluation of the initial well has been completed.
JayHawk’s President, Marshall Diamond-Goldberg commented, “We are pleased with the initial results as determined by sample analysis and gas readings in the zone of interest and are looking forward to completing the well and assessing its production potential.”
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Investor Relations Contact
Barry Gross of Gross Capital, Inc.
www.grosscapital.com
E-Mail: jayhawk@grosscapital.com
Telephone: 1-361-949-4999
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About JayHawk Energy
JayHawk Energy, Inc. is a managed risk, oil and gas exploration/exploitation, development and production company with activities focused on two major projects in the Cherokee Basin, Kansas and the Williston Basin, North Dakota. For more information please visit www.jayhawkenergy.com.
Cautionary Note to U.S. Investors --
The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as probable, possible and potential, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Examples of such disclosures would be statements regarding “probable,” “possible,” or “recoverable” reserves among others.
Management hopes these transactions will bring additional value to the shareholders of JayHawk Energy. There is no guarantee that the projects that JayHawk has recently acquired will increase the value of its shares of common stock, or that JayHawk will acquire rights to explore and operate any other such projects, or that in the event that it acquires rights to explore and operate other such projects, that these actions will be successful or increase the value of JayHawk’s common stock.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause our expectations and beliefs about our plans to acquire additional exploration or production properties, our plans to drill or our drilling results to fail to materialize: competition for new acquisitions, availability of capital, unfavorable geologic conditions, the complexity of coal bed methane exploration and production, and prevailing prices for natural gas and general regional economic conditions. JayHawk assumes no obligation to update the information contained in this press release.
