POINT ROBERTS, WA--(MARKET WIRE)--Jun 21, 2005 -- www.OilandGasStockNews.com (OGSN), a global investor website for the oil and gas industry, is pleased to feature an exclusive article on the growing potential of the Nevada area for massive oil discovery and production, "Nevada -- A North American Oil Hotbed in the Making." According to recent data, and current discoveries, this area has the potential to become a North American oil hotbed. Exploring Nevada's oil potential are companies such as Eden Energy Corp (OTC BB:EDNE.OB - News), Faskin Oil and Ranch, and FX Energy Inc. (NasdaqNM:FXEN - News).
Oil discovery in Nevada has been hampered in the past by the lack ofa detailed and precise geological survey. In fact, the State of Nevadais one of the only states that has never had a geological survey,which is why Dr. Alan Chamberlain, President of oil and gasexploration company Cedar Strat, has spent the past 25 years creatingthe first detailed geological map of Eastern Nevada, correcting andsignificantly expanding on the cursory maps completed in theseventies by the U.S. Geological Survey. With the lack of accuratemapping, Nevada has not been successfully explored for oil, but thatis changing.
Until recently, little significant drilling had been completed in theGreat Basin area of Eastern Nevada and Western Utah, which is why thenear billion barrel discovery made by Wolverine Gas & Oil has openedthe eyes of many, and established credibility for those companiesalready pursuing opportunities within the Great Basin area.Several oil exploration firms are hoping to take advantage of thiswestern potential for oil discovery through operations in Nevada. FXEnergy Inc. (NASDAQ: FXEN) has made a small shallow discovery inNevada's Railroad Valley and plans to drill up to three additionalexploratory wells in Nevada this year, and Eden Energy Corp (OTC BB:EDNE) is currently developing a 210,000 acre lease block in EasternNevada where they have 100% working interest in the block they callNoah.To Read the Full Article Click Here:http://www.OilandGasStockNews.com/OGSN/Articles/Nevada.asp