Business
Carmen Energy Inc. Announces Spudding of Horizontal Glauconitic Development Well
CALGARY, Oct. 24, 2011 /CNW/ - Carmen Energy Inc. (TSXV: CEI) (" Carmen " or the " Corporatio...
About this update from Cassiar Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Oct. 24, 2011 /CNW/ - Carmen Energy Inc. (TSXV: CEI) (\"Carmen\" or the \"Corporation\") is pleased to announce that the Corporation, with Shorthorn\n Exploration Ltd. (\"Shorthorn\") has spud a horizontal Glauconitic light oil development well in the\n Viking Kinsella, Alberta area.\n\n\nThe Corporation plans to land the well bore at an approximate true\n vertical depth of 750 meters in the Glauconitic zone and drill out a\n horizontal leg 900 meters.\n\n\nUnder the terms of the farmin agreement, Carmen is paying 100% of the\n costs to drill to the contract depth, abandonment, capping or\n completion, equipping and tie-in to earn a 60% working interest in the\n well and half-section of land the well is located on. In the event the\n well is a gas well, Carmen will earn the entire section the well is\n located on.\n\n\nProvided that the Letter of Intent announced by Carmen on September 19,\n 2011 to acquire Shorthorn is transacted, the farmin agreement shall be\n superseded by virtue of Carmen's acquisition of Shorthorn.\n\n\nAbout Carmen Energy Inc.: Carmen is based in Calgary, Alberta and a publicly traded oil and gas\n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 properties in Southern Alberta and the Hamburg\n properties in northern western Alberta.\n\n\nFORWARD LOOKING INFORMATION\n\n\nCertain information in this news release is forward-looking within the\n meaning of certain securities laws, and is subject to important risks,\n uncertainties and assumptions. This forward-looking information\n includes, among other things, the expected drilling depth, the ability\n for the Corporation to finalize the acquisition of Shorthorn and\n information with respect to the Corporation's beliefs, plans,\n expectations, anticipations, estimates and intentions and the\n activities of the Corporation after the acquisition of Shorthorn.  The\n words \"may\", \"could\", \"should\", \"would\", \"suspect\", \"outlook\",\n \"believe\", \"anticipate\", \"estimate\", \"expect\", \"intend\", \"plan\",\n \"target\" and similar words and expressions are used to identify\n for...