ACOR: 25 Wells Have Been Connected to Atmos Gas Gathering System

Australian-Canadian Oil Royalties Ltd. (ACOR) announced that 25 out of 34 of ACOR's existing gas wells operated by Resource and Energy Technologies Company (RETCO) are currently being connected to a natural gas gathering system owned by a unit of Atmos Energy Corporation and to a gas processing facility, and operated by RETCO.

The gas plant is completely finished. It is still in Oklahoma waiting to be transported to the plant site in Kentucky. The multi-day transport to Kentucky will begin near the end of this month. The plant skids will be transported on 23 semi's. Both of the gas plant towers -- the 95-foot and the narrower 50-foot -- have been delivered to the plant site and the lower section of the larger tower has been set upright on its pedestal.

The packing material has also been placed inside. The foundations are being framed and poured. Most of them are now complete. The electrical grounding crew has finished burying the copper wire around the perimeter of the plant.

Texas Gas has completed the hot tap into their 8-in. high pressure gas line which runs through the plant site. They have also delivered their sales gas meter-run skid to the plant site.

After the plant arrives in about three weeks, the fabricator will need between two and four weeks to plumb all the different skids and plant sections together, before turning on the switch, later next month.

The first of the 34 well-head meter-run skids have arrived and have been installed with the latest electronic meters and telecommunications equipment, along with the perimeter protection fencing. We have also set up two of the 95-foot reception and relay towers, which will bring all the well-head data to the plant site.