Business
Berens Energy Ltd. Announces New Area Farm-in
Berens Energy Ltd. Announces New Area Farm-in.
About this update from Argenta Silver Corp
[{"type":"text","content":"\n\n\n\n\nSymbol: BEN - TSX \n\nCALGARY, Nov. 17 /CNW/ - Berens Energy Ltd. (Berens) is pleased to\nannounce a significant farm-in agreement which gives the company an additional\nplatform for growth.\nThe farm-in is with a private oil & gas company in the Marten Hills area,\nlocated approximately 200 kilometers north of Edmonton. The Marten Hills \nfarm-in provides Berens with access to 45 gross sections of land where it will\nfocus on the multi-zone potential in the Cretaceous section. Berens has\ncommitted to a seismic program and to pay 67.5 percent of the cost to drill\nnine wells and re-complete two wells after which it will have earned a\n37.5 percent working interest in all 45 sections. Marten Hills is a winter\naccess area and Berens views this project as analogous to its current core\narea of Lanfine where the use of seismic technologies has the potential to\nsignificantly enhance the success of the drilling program at Marten Hills.\n\"This farm-in meets our objective of establishing another significant\narea in which we can use our in-house technical expertise to maximize\nshareholder return. Berens' 2006 capital program now has greater diversity in\nterms of risk and potential return with this added area\" states Bob Steele,\nCEO of Berens.\nBerens is a publicly traded Canadian energy company involved in the\nexploration, development and production of natural gas and crude oil in\nwestern Canada.\n\nForward looking statements: This press release may contain \nforward-looking statements including expectations of future activities,\nproduction, cash flow and earnings. These statements are based on current\nexpectations that involve a number of risks and uncertainties, which could\ncause actual results to differ materially from those anticipated. These risks\ninclude, but are not limited to: the risks associated with the oil and gas\nindustry (e.g. operational risks in development, exploration and production;\ndelays or changes in plans with respect to exploration or development projects\nor capital expenditures; the uncertainty of reserve estimates; the uncertainty\nof estimates and projections relating to production, costs and expenses and\nhealth, safety and environmental risks), commodity price and exchange rate\nfluctuation.\n\n\n%SEDAR: 00020114E\n\n\n","length":2351,"tagName":"div"}]