Sunridge Energy Corp.: Drilling Completed on the North Central Oil Project
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/20/12 -- Sunridge Energy Corp. ("SRG" or the "Company") (TSX VENTURE: SRG) is pleased to announce that the drilling operation has been completed successfully, on time and within budget. Production casing has been run and testing will commence after spring-break up and road restrictions are lifted.
The zone of interest was cored, recovered successfully, and will be analyzed prior to completion. Pre-lab analysis observations of the core are very positive.
ABOUT NORTH CENTRAL OIL PROJECT
The property consists of 2,320 acres comprised of crown and freehold leases that are 100% controlled by Sunridge Energy. Based on the results of this exploration program thus far, the company will proceed with additional short-radius horizontal wells to test the target formation in the Upper Mannville sandstone. Total drilling distance per well is anticipated to be 1,500 - 1,800 metres (measured depth).
ABOUT SUNRIDGE
Sunridge is a junior oil and gas exploration and development company with production operations in the Province of Alberta. The recent acquisition of the 6-Phase Oil Heating proprietary technology gives Sunridge an unprecedented opportunity to extract extensive potential reserves of heavy oil (bitumen) at shallow depths in the Alberta Oil Sands. The Sunridge assets are structured to decrease operation costs, enhancing shareholder value.
On behalf of the board,
Dwayne Tyrkalo, Chief Executive Officer
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Sunridge cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Sunridge's control. Such factors include, among other things: risks and uncertainties relating to Sun ridge's ability to complete the drilling of the Test Well; earn a working interest in the Property and that there will be production from any wells drilled. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Sunridge undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Sunridge Energy Corp. - Calgary
Dwayne Tyrkalo
Chief Executive Officer
403-718-9591
403-227-5983 (FAX)
Sunridge Energy Corp. - Vancouver
604-681-0221
604-687-4670 (FAX)
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Datum: 20.03.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 126533
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Oil & Gas
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