Business
Carmen Energy Inc. Announces Casing of Leduc Reef Light Oil Exploration Well and Horizontal Glauconitic Development Well
CALGARY, Nov. 1, 2011 /CNW/ - Carmen Energy Inc. (TSXV: CEI) (" Carmen " or the " Corporation...
About this update from Cassiar Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Nov. 1, 2011 /CNW/ - Carmen Energy Inc. (TSXV: CEI) (\"Carmen\" or the \"Corporation\") is pleased to announce that the Corporation, with its Partners has\n completed drilling to the contracted depth on the second of two Leduc\n test (\"Leduc well\") wells at Sylvan Lake, Alberta and the horizontal\n Glauconitic development well (\"Glauconitic Horizontal well\") in the\n Viking-Kinsella, Alberta area.\n\n\nAfter a review of the logs and samples of the aforementioned wells, the\n Company and its Partners have undertaken to case the Leduc well and\n commence completion and testing operations. The Glauconitic Horizontal\n well reached a measured depth of 1,740 metres with a horizontal section\n of 890 metres and was cased for completion, stimulation and production\n testing.\n\n\nThe Company anticipates testing on both wells to transpire within the\n next 14 to 28 days, dependent on availability of equipment and services\n in the areas.\n\n\nUnder the terms of the farmin agreement on the Leduc Reef Exploration\n well in the Sylvan Lake, Alberta area, Carmen is paying 25% of all\n costs to completion of testing to earn a 16.25% working interest in the\n well and entire section of land the well is located on.\n\n\nUnder the terms of the farmin agreement on the horizontal Glauconitic\n development well in the Viking-Kinsella, Alberta area, Carmen is paying\n 100% of the costs to drill to the contract depth, abandonment, capping\n or completion, equipping and tie-in to earn a 60% working interest in\n the well and half-section of land the well is located on.\n\n\nProvided that the proposed transaction to acquire Shorthorn Exploration\n Ltd (\"Shorthorn\") as provided in a Letter of Intent announced by Carmen\n on September 19, 2011 is completed, the farmin agreement relating to\n the Horizontal Glauconitic Development well in the Viking, Alberta area\n shall be superseded by virtue of Carmen's acquisition of Shorthorn.\n\n\nAbout Carmen Energy Inc.: Carmen is based in Calgary, Alberta and a publicly traded oil and gas\n exploration and production company. The focus is on exploration and\n development of Western Canadian Sedimentary Basin based oil and gas\n properties. The current projects are the Jumpbush properties in south\n eastern Alberta, the Ferrybank properties in central Alberta, the\n Sylvan Lake area pro...