Business News

Gulf Onshore, Inc. Mid-Month Oil Production Increased

SOURCE:

Gulf Onshore, Inc.

2008-08-19 06:00:00

DALLAS, TX–(EMWNews – August 19, 2008) – Gulf Onshore, Inc. (OTCBB: GFON) announces

mid-month oil production figures.

As of August 17, 2008, Gulf Onshore has 627 BO gauged and in the Company’s

tank batteries for pick-up from its leases in Throckmorton Co. and

Shackelford Co., Texas; an additional 168 BO has already been sold in

August 2008. Revenues from August 2008 oil sales will be booked in

mid-month September 2008, upon receipt from our oil purchaser.

August 2008 mid-month production compares favorably to July 2008 cumulative

production of 913 BO.

Two existing wells were re-worked and two non-productive wells put back

into production in the first half of August 2008, under the Company’s

Re-Work/Development Program. In addition, we are awaiting Texas Railroad

Commission approval of our applications for two additional water

injection/disposal wells, which will allow production increases going

forward.

About Gulf Onshore, Inc.

Gulf Onshore, Inc. is an oil and gas company with a focus on oil and gas

prospects and properties which require further development. Gulf is careful

to develop a thorough drilling plan using advanced technologies in both

mapping and the use of 3D seismic reports and information. Gulf trades

under the ticker symbol GFON.OB on the OTCBB.

This Press Release may include forward-looking statements within the

meaning of Section 27A of the Securities Act of 1933 and Section 21E of the

Securities Act of 1934. A statement identified by the words “expects,”

“intends,” “projects,” “plans,” or similar phrases may be deemed

“forward-looking statements.” Although Gulf Onshore, Inc. believes that the

expectations reflected in such forward-looking statements are reasonable,

these statements involve risks and uncertainties that may cause actual

future activities and results to be materially different from those

suggested or described in this press release. These include risks inherent

in the drilling of oil and natural gas wells, including risks of fire,

explosion, blowout, pipe failure, casing collapse, unusual or unexpected

formation pressures, environmental hazards, and other operating and

production risks inherent in oil and natural gas drilling and production

activities, which may temporarily or permanently reduce production or cause

initial production or test results to not be indicative of future well

performance or delay the timing of sales or completion of drilling

operations; risks with respect to oil and natural gas prices, a material

decline in which could cause the Company to delay or suspend planned

drilling operations or reduce production levels; and risks relating to the

availability of capital to fund drilling operations that can be adversely

affected by adverse drilling results, production declines and declines in

oil and gas prices and other risk factors.

Contact:

Michele Sheriff
Gulf Onshore, Inc.
972.788.4500

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