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49 NORTH RESOURCES INC. PROVIDES UPDATE ON ALLSTAR ENERGY PHASE TWO DEVELOPMENT DRILLING AND THE COMPLETION OF ITS OIL AND GAS PROCESSING FACILITY
49 NORTH RESOURCES INC. PROVIDES UPDATE ON ALLSTAR ENERGY PHASE TWO DEVELOPMENT DRILLING AND THE ...
About this update from 49 North Resources Inc
[{"type":"text","content":"\n\n\n\n Dec. 15, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSX Venture Exchange Symbol FNR\n\n\nSASKATOON, Dec. 15 /CNW/ - 49 North Resources Inc. ("49 North" or the\n "Company") (TSX Venture: FNR) is pleased to provide an update on its\n current drilling program. On December 6, 2010, the Company commenced\n phase two development drilling that will place an additional five (5)\n horizontal wells adjacent to the first 5 successful Viking horizontal\n wells, which were completed during the last half of October, 2010 and\n are currently free flowing in advance of the installation of pumps in\n Q1 of fiscal 2011. Results of the initial production from the first 5\n wells will be announced towards the latter part of January, 2011. The\n drill program is being carried out by 49 North's subsidiary, Allstar\n Energy Limited. 49 North owns 89.5% of the issued and outstanding\n common shares of Allstar Energy Limited, with the 10.5% residual\n interest owned by founders and operators.\n\n\nAshley Drobot, P.Geo, President and CEO of Allstar Energy Limited,\n expects to complete the drilling of all 5 wells by the first week of\n January 2011 with multistage completions scheduled to begin shortly\n thereafter.  The recently completed and interpreted 10,000m of 2D\n seismic will allow for optimal well bore placement on these 5 new\n horizontals, and has identified an additional five (5) new locations\n that are now also drill ready.\n\n\nThe Company ...