HOUSTON, Feb. 1 /PRNewswire-FirstCall/ -- Gateway Energy Corporation (BULLETIN BOARD: GNRG) (http://www.gatewayenergy.com/ ) ("Gateway") announced today that its subsidiary, Gateway Offshore Pipeline Company ("Gateway Offshore"), has entered into an agreement with a producer to transport all of its natural gas produced from a certain state lease located in Galveston Bay, Galveston County, Texas through Gateway Offshore's Bolivar Gathering System. Gateway Offshore commenced transportation for the producer in early January, 2007.
Robert Panico, President and Chief Executive Officer of the Company, stated, "This is the second producing well to connect to our Bolivar Gathering System in the past two months. The Company continues to see increased activity and interest near our offshore pipeline systems, both in Galveston Bay and the Gulf of Mexico."
Gateway Energy Corporation owns and operates natural gas gathering, transportation and distribution systems and related facilities in Texas and Oklahoma and offshore Texas and in federal waters of the Gulf of Mexico.
Certain of the statements included in this press release, which express a belief, expectation or intention, as well as those regarding future financial performance or results, or which are not historical facts, are "forward- looking" statements as that term is defined in the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. The words "expect", "plan", "believe", "anticipate", "project", "estimate", and similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance or events and such statements involve a number of risks, uncertainties and assumptions, including but not limited to industry conditions, prices of crude oil and natural gas, regulatory changes, general economic conditions, interest rates, competition, and other factors. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
