Axiom Oil and Gas Prepare to Drill and Complete Four Oil Wells

New York, NY, May 7, 2015 (Newswire.com) - The Axiom team announces that our joint venture partners on its leases in Montana, recently secured the services of APEX Energy Consultants, Inc. to develop, prepare and oversee the expansion of our operations in this historically prolific area. The team is set to carry out an additional ‘Frack’ on our first two wells in order to test our broader operative synopsis and provide Axiom and our operative partners with a tested format for further expansion on our Montana leases.  We are also preparing to drill two additional wells on our acreage with our partners.  The Company believes that the wells are low-risk, off-set extensions to existing production.

A look at Company operations:

 The Company’s leases are located on large geological structure located Montana.  This geological feature has over 850 ft of structural closure and covers approximately 1,000 square miles. It lies along the edge of an area where significant oil has been generated from the organic-rich Bakken Shale. Oil companies have been drilling in this region for many years and more than 250 million barrels of Bakken-generated oil have already been produced.

Axiom jointly owns leases on approximately 13,780 gross acres (5,640 net acres) containing two drilled oil wells, two producing gas wells and the targeted locations are delineated by 39 square miles of comprehensive 3D seismic data.

Furthermore, production costs are minimized because the oil field does not produce water.

The plans developed by APEX:

 APEX has, upon review of our project, developed plans which will enable us to bring a sample profile of our most promising properties online. Upon successful completion, these wells will provide Axiom and our partners with operating cash flow as well as a proven viability sample upon which we can plan for the further development on our adjunct leases. 

Historically, the typical IP for wells has been between 30 and 100 BOPD with an average production of 30 - 50 BOPD in the first year. It is a conventional drilling project with over 70 identified targets for development drilling.  The targeted zone is the Nisku at about 3,100 feet that contains Bakken oil (38 API) (with a free look at 7 zones as we drill through).  As well, the surrounding wells produce no water keeping production costs very low.

 About Axiom Oil and Gas Corp.:

Axiom Oil and Gas Corp. is an oil and gas exploration and development company, formed initially, to develop oil and gas leases in Montana.  The Company provides investors with direct exposure to producing oil and natural gas interests with significantly lower production costs.  With a strong management and operations team and low risk development drilling, the Company is building a solid base operation with stable cash flow to ensure corporate longevity and minimal dilution as it grows its shareholders’ value and by adding excellent oil and gas properties.

Axiom Oil and Gas Corp. (OTCQB: AXIO) trades on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies.  Companies are current in their reporting and undergo an annual verification and management certification process.  Investors can find Real-Time quotes and market information for the company on otcmartket.com. 

Forward Looking Statement:

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.