Jaguar Resources Inc.: Bannock Creek Exploration Well
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 04/28/15 -- Jaguar Resources Inc. (Jaguar or the Company) (TSX VENTURE: JRI) is pleased to announce that the Company is preparing to drill an exploration oil well at its Bannock Creek Property in the Province of Saskatchewan.
At present the well location is under rural municipality road bans due to soft ground conditions and the Company will mobilize a drilling rig and crew to the drill site as soon as the restrictions are lifted and the ground conditions permit.
The exploration oil well prospect has been selected following the recently completed 2D seismic program which was designed to identify and confirm closure for potential light oil traps in the stacked Red River, Winnipeg and Deadwood Formations of the Northeastern Williston Basin. The seismic data confirmed the anticlinal four-way closure of the drillable prospect at Bannock Creek. The closed fault bounded roll over structure is 480 acres minimum in area and has the potential to contain hydrocarbons from all three targeted reservoirs.
The closure of this structure, which compares very favourably with existing producing light oil pools to the south of Bannock Creek and the validation of an exploration model has resulted in the selection of this light oil prospect as the Company's first exploration well which will be drilled and completed conventionally to a depth of less than 1,000 meters.
About Jaguar
Jaguar's business strategy is to seek to provide shareholders with growth by exploring the existing assets in the Saskatchewan Little Swan and Bannock Creek plays. As part of its corporate strategy of acquiring additional assets, the Company is in the process of evaluating several potential transactions which individually or together could be material. The Company cannot predict whether any current or future potential opportunities will result in one or more transactions involving the Company. The Company may issue equity or utilise debt facilities to finance all or a portion of any such potential acquisitions and or drilling programs on its Saskatchewan lands.
Neither the 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.
Forward Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, this news release contains forward-looking statements and information relating to the Company's development plans including drilling the exploration well at Bannock Creek, plans to mobilize a drilling rig in the coming months, management's interpretation of the 2D seismic data, the potential and likelihood of any geological structure on the Company's properties containing hydrocarbons, and the identification of the location of the first exploration well at Bannock Creek. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company, including, without limitation, the Company having adequate financial resources to fund operations and development on its properties, that the results of the 2D seismic program is accurate, that the interpreted geological structure is sufficiently similar to other known structures such that analogies are appropriate, and that the Company will receive all regulatory and other approvals required to drill the exploration well. Although management of the Company believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to continue operations without adequate capital, the Company's ability to raise further capital, the Company's ability to efficiently and successful explore and develop its properties, availability of drilling rigs, failure to interpret geological and geophysical information accurately, and the likelihood of those or any geological structures containing hydrocarbons. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the TSXV. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Contacts:
Jaguar Resources Inc.
Corbin Blume
President & CEO
Main Phone (587) 350-7500
(587) 350-7505 (FAX)
Jaguar Resources Inc.
730, 1015 - 4th Street SW
Calgary, Alberta T2P 2V7
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Datum: 28.04.2015 - 23:31 Uhr
Sprache: Deutsch
News-ID 389249
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Town:
CALGARY, ALBERTA
Kategorie:
Mining & Metals
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