GWGI.PK Galloway Energy

[Trades4Fun]

This is on alert here folks had a very strong day esp. into close, hearing going to have a great week here. Up nearly 30% for the day. Check it out here.

[Trades4Fun]

Just in...

Galloway Energy Announces Adams Feed #1 Gas Well Drilling Ahead at West Texas Project
On Friday May 1, 2009, 4:05 pm EDT
RENO, NV--(MARKET WIRE)--May 1, 2009 -- Galloway Energy Inc. (Other OTC:GWGI.PK - News) ("Galloway" or the "Company") today is pleased to announce that the "Adams Feed #1" well, which is the first of the previously announced multi-well development program, has commenced drilling at the West Texas project. The gas well is drilling ahead, and will reach the total depth within 4 days. The Company expects results on gas pay zone intervals and will have a very good idea as to the commercial viability of the well and productive gas flow rates shortly thereafter. Galloway will update results as soon as further news becomes available.

The "Adams Feed #1" well is located adjacent to the town of Ozona in Crockett County, Texas. As previously announced, Galloway has secured a first right of refusal to participate in the gas project located on 12,900 acres in the Barnett Shale area of West Texas. The area is a well documented and prolific region benefiting from the presence of established companies such as Chesapeake, Devon, EOG, XTO, and Quicksilver Exploration. The Barnett Shale is one of the largest sources of Natural Gas in the USA with proven reserves of 2.5 Trillion cubic feet (Tcf) which many companies believe is far short of a reserve potential that may prove to be significantly closer to 30Tcf or more. The property in question has over 115 working wells currently in production, as a result of which Galloway's participation will result in immediate cash flow for the Company.

Company President and CEO Shane Lowry comments, "The news from West Texas is very promising and we look forward to announcing what we believe will be positive results in short order. Galloway is entering a growth phase and we look forward to turning our strategic aims into practical reality as quickly as possible."

[rob111]

This stock is postioned to explode tomorrow!!!! It is gonna be a great day for GWGI!!!!!!

[Trades4Fun]

I agree with you Rob.

The property in question has over 115 working wells currently in production, as a result of which Galloway's participation will result in immediate cash flow for the Company.

Very nice

[rob111]

Hearing news is coming @ the close today....Also hearing that they are probably going to release the best news the company has ever seen. We shall see.

[Trades4Fun]

Rob, your right on the money here is the news

Galloway Energy Adams Feed #1 Gas Well Drilling on Schedule
On Monday May 4, 2009, 4:15 pm EDT
RENO, NV--(MARKET WIRE)--May 4, 2009 -- Galloway Energy Inc. (Other OTC:GWGI.PK - News) ("Galloway" or the "Company") wishes to advise that the "Adams Feed #1" well at the West Texas Project is proceeding to drill ahead on schedule.


The operator of the project has confirmed that the well is on target to reach T.D. (Total Depth) and shortly thereafter the requisite testing of any productive gas bearing zones will immediately commence. Galloway will know the commercial viability of the well and productive gas flow rates upon the completion of testing. The well is the first of a proposed development program targeting a minimum of 20 gas wells to be drilled across the acreage.

The "Adams Feed #1" well is located adjacent to the town of Ozona in Crockett County, Texas. The Ozona region has over 115 working wells currently in production and the program is deemed to be relatively low risk as the formational sands being tested are well known and historically documented as producers.