Vulcan Minerals Inc.: Commences Core Drilling at Flat Bay Oil Deposit
(firmenpresse) - ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwire) -- 09/27/11 -- Vulcan Minerals Inc. ("the Company") (TSX VENTURE: VUL) is pleased to announce it has commenced its core drilling program at the Flat Bay oil deposit in western Newfoundland. The program will consist of five core holes covering an area of approximately four kilometres from north to south centered near the Flat Bay #1 discovery well. The Flat Bay oil deposit has been encountered at a depth as shallow as 100 metres. The purpose of the program is to obtain core for reservoir engineering purposes and help delineate the boundaries and structure of the oil pool towards a better understanding of the potential oil-in-place. The program is expected to be completed in four weeks.
The shallow Flat Bay oil deposit occurs in low permeability conglomerates and sandstones. Although the oil is light, at 34 degrees API, it has a pour point of 9 degrees Celsius, which exceeds the reservoir temperature at the depths currently intersected. Therefore, the oil does not flow freely. An input of energy into the shallow reservoir will be required to stimulate flow. The current drill program should provide additional reservoir information to help design an oil recovery method. The project is a 50/50 joint venture with Investcan Energy Corporation. A drill location map is available on the Company's website at .
Vulcan is a diversified junior exploration company focused on petroleum exploration in the under-explored western Newfoundland and Labrador areas and also holds mineral interests in areas strategic to its operations in Newfoundland and Labrador.
The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.
There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise
Shares Issued: 57,176,129
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Contacts:
Vulcan Minerals Inc.
Patrick J. Laracy, President
Gerri A. MacNeil, Business Manager, Investor Relations
709-754-3186
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 27.09.2011 - 15:32 Uhr
Sprache: Deutsch
News-ID 70244
Anzahl Zeichen: 0
contact information:
Town:
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 245 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Vulcan Minerals Inc.: Commences Core Drilling at Flat Bay Oil Deposit"
steht unter der journalistisch-redaktionellen Verantwortung von
Vulcan Minerals Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
