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IAS COMMUNICATIONS, INC. COMMENCES THE DRILLING OF THE SECOND GAS WELL IN KENTUCKY
For Immediate Release: July 6, 2006. Vancouver, BC - IAS Communications, Inc. (OTC BB: IASCA / www.iasenergy.com) has commenced the drilling of the Elvis Farris #2 well, located on the Farris Lease, in Laurel County, Kentucky, which is under lease by Energy Source, Inc.
IAS will earn a 100% interest in each well drilled and financed by IAS, subject to a 12 ½ percent revenue interest to the landowner, and 27 ½ percent to Energy Source, Inc., the lessee and operator of the wells.
Teryl Resources Corp. (TSX Venture Exchange: TRC, www.terylresources.com) has an option for a 40% working interest in the Elvis Farris #2 well, from IAS, in consideration for paying for 50% of the costs of drilling.
PRODUCTION HISTORY
East Kentucky wells historically have been producing natural gas since the 1920's with wells experiencing up to 30 MMCF GPD in daily production. There are five potential pay zones that have produced successful natural gas production. Data from the University of Kentucky, reviewed for the year 2000, shows approximately 481 wells in east Kentucky, with 421 of those wells completed as commenced producers.
ABOUT IAS COMMUNICATIONS, INC.
IAS Communications, Inc. has an interest in two producing oil and gas wells in Texas. The wells are operated by Anadarko Petroleum Corporation, which is one of the largest independent oil and gas exploration and production companies in the world. IAS has an option to drill up to 24 gas wells in Kentucky to earn a 60% net revenue interest.
ON BEHALF OF THE BOARD OF DIRECTORS
"John Robertson"
John Robertson
President
Contacts: IAS Communications, Inc.
John Robertson, 1-800-665-4616
Statements in this press release regarding IAS Communications, Inc.' s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including the impact of competitive products and pricing, the need to raise additional capital, uncertain markets for the Company's products and services, the Company's dependence on third parties and licensing/service supply agreements, and the ability of competitors to license the same technologies as the Company or develop or license other functionally equivalent technologies.
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