Prairie West Oil and Gas Announces Acquisition of 15 sections of Oil & Gas Property Located in SW Saskatchewan Canada.
(firmenpresse) - Prairie West Oil and Gas Announces Acquisition of 15 sections of Oil & Gas Property Located in SW Saskatchewan Canada.
Property acquired as part of previously announced 27 producing gas well purchase.
CALGARY, Alberta Canada/Aug 30, 2011 -- Today Prairie West is pleased to announce that as part of its recent 27 producing gas well purchase, it has acquired 15 sections (9600 Acres) located in the prolific Shackleton area within the Western Canadian Sedimentary basin.
Vice President Anthony Sarvucci: "The acquisition of this land in such a prolific area represents great opportunity for both Prairie West and its Shareholders. Every indication shows that not only will the company be able to further produce additional gas revenues it also opens the door for the very real probability of adding substantial oil production to the overall play. This is an exciting time here at Prairie West and the team is working hard every day to further create shareholder value by continually adding both production and proven reserves to the Prairie West portfolio."
All 9600 Acres are located in the Canadian province of Saskatchewan which is Prairie West's operating area of choice because of its simplified regulation and favorable economic terms.
Moving forward Prairie West fully intends to perform a strategic in-depth geological analysis of its new Shackleton play with the goal of identifying new viable drilling candidates that carry a low risk , high reward profile.
About Prairie West Ltd.:
Prairie West Oil & Gas is a producing energy company with both established production and assets within the center of Canada's highest reserve epicenters; the oil boom provinces of Alberta and now Saskatchewan. Prairie West operates under the notion that now is the time to take advantage of favorability priced acquisitions and joint ventures while constantly striving to reduce the cost of doing business. The goal is to build for the future while remaining focused on the short term profitability that rewards early shareholders.
The experienced team at Prairie West has the expertise and proven execution required for success in today's rapidly changing energy sector. This has been clearly demonstrated with the Maidstone acquisition and the more recent eleven well expansion located in close proximity to current production.
Prairie West's primary long-term development project is strategically placed within the highly productive Twining area which is surrounded by major multi-national energy giants such as EnCana, Suncor and Devon Energy. This project is immediately adjacent to the enormous Twining Rundle/Mannville Pool with original oil in place of 1.013 billion barrels equivalent.
Leseranfragen:
Prairie West Oil and Gas
Gary Pearce
888 3rd Street SW Suite 1000
Calgary, Alberta T2P5C5
TEL. 403 444 6880 403 444 6880
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Datum: 30.08.2011 - 09:09 Uhr
Sprache: Deutsch
News-ID 60299
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