FOR IMMEDIATE RELEASE
“Light Media and DCD Operating Partner to: Maximize Recoverable Oil and Gas Interests in Gillette, Wyoming"
November 1, 2010. Atlanta/Gillette. Further diversifying its portfolio, Light Media (OTC: LGMH) announced today that it has entered into a strategic alliance, with DCD Operating, granting Light Media the right to exclusively: (1) acquire 50% of DCD Operating; and (2) spearhead efforts to maximize DCD Operating's recoverable crude petroleum and natural gas interests located in Gillette, Wyoming ("Energy Capital of the Nation"). DCD Operating specializes in Crude Petroleum and Natural Gas extraction, in Wyoming, with over 28 years of oil and gas industry expertise. Financial terms of the transaction are undisclosed. For more information, click here: DCD Operating Oil and Gas Appraisal.
In 2008, renowned Russian Petroleum expert Dr. Vladimir Serebryakov authored an appraisal of DCD Operating oil and gas interests estimating approximately: 1,981,500 barrels of recoverable oil and 1,420,400 mcf (thousand cubic feet) of recoverable natural gas. To view a copy of the 2008 DCD Operating ((61-pages) Appraisal Report covering 28 Wells), click on the following link: DCD Operating Oil and Gas Appraisal (or copy/paste the following link in your web-browser to view the 2008 DCD Operating Inc. Appraisal Report): https://acrobat.com/#d=xXAcyc6f57lDEVryud9jHw
About Light Media:
Light Media (OTC: “LGMH”) is a diversified holding company for an array of assets. For more info., please visit: www.LightMediaHoldings.com
Cautionary Note Regarding Forward-Looking Statements: This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Light Media (OTC: “LGMH”) and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
WYOMING OIL EXPLORATION FACTS AND FIGURES (PETROLEUM ASSOCIATION OF WYOMING):
The petroleum industry has been exploring for oil and gas in Wyoming for over 126 years. In 1884 the first oil well was drilled southeast of present day Lander. Crude oil and/or natural gas were produced in 20 of Wyoming's 23 counties during 2009.
Nationally, Wyoming ranked 7th in production of crude oil and 2nd in natural gas production during 2009. In 2009 Wyoming recorded its highest level of natural gas production, 2009 marked the lowest level of crude oil production since 1954. 1970 was the year of highest crude oil production in the state, producing 141,546,503 barrels. Sublette County was the leading crude oil producer in 2009 followed by Campbell and Sublette Counties. Sublette County was the largest natural gas producer, with Johnson and Sweetwater Counties following. During 2009, 399 companies/operators produced Wyoming's crude oil and 285 produced natural gas. There were 35,359 producing wells. In 2009 approximately 9,634 wells produced oil and 25,666 produced gas of that number 15,725 were coal bed natural gas wells. The average daily production for an oil well was 14 barrels. For a gas well, the average was 271 Mcf’s per day. Wyoming had 44 operating gas plants in 2009 processing nearly 72% of the state's gas production.
REFINING AND TRANSPORTATION: Wyoming's first refinery was constructed in Casper in 1895. In 2009 there were six active refineries in the state with a capacity to refine 165,500 barrels of crude oil each day. In 1981 there were fourteen active refineries in the state. The first crude oil pipeline was constructed in 1911. Today, there are 100 companies operating over 27,300 miles of pipelines in Wyoming carrying crude oil, natural gas or petroleum products. Petroleum pipelines are located in all of the state's 23 counties.