Business
CGrowth Capital Subsidiary Completes Drilling of Well -- Company Provides Update on Corporate Activities
CGrowth Capital Subsidiary Completes Drilling of Well -- Company Provides Update on Corporate Activities.
About this update from Cgrowth Capital, Inc.
[{"type":"text","content":"\n \n \n CGrowth Capital Subsidiary Completes Drilling of Well -- Company Provides Update on Corporate Activities\n \n \nCGrowth Capital Subsidiary Completes Drilling of Well -- Company Provides Update on Corporate Activities\n \n SILVERDALE, WA--(Marketwired - Oct 24, 2017) - CGrowth Capital, Inc. (OTC PINK: CGRA) (the \"Company\") is pleased to announce that its wholly-owned subsidiary, Powder River Resources, Inc., has successfully drilled the Tolero 69-1 well to Total Depth in the oil and gas resource rich state of Wyoming. Based upon the favorable indications identified during the drilling, production casing was run and cemented into place. Well testing will take place in the coming weeks to determine production estimates. The Company kept stakeholders apprised of the drilling progress via their Facebook (https://www.facebook.com/CGrowthCapital) and Twitter (https://twitter.com/CGRAOTC) pages. \n Bill Wright, CEO of CGrowth Capital, Inc., stated, \"The entire crew is ecstatic about getting to Total Depth and being able to case in this well. It is amazing the number of pieces and people that must come together to complete these tasks. I cannot provide enough praise for both our internal team and the subcontractors for their perseverance and professionalism in completing this critical phase of the project.\"\n Mr. Wright continued, \"We are starting to fire on all cylinders. This drilling exercise is just the beginning of our program, as we have identified a dozen additional drilling locations between this site and our West Salt Creek field in Natrona County. On the corporate side, we have been hard at work expanding our funding, which is leading to expansion of current programs, additional business opportunities, and increased corporate diversity. Strategically, all of these items are coming together as we drive closer to the completion of our 2-year audit which will position us for a market uplisting.\"\n The Company has not issued shares since 2015 -- nearly 24 months -- and remains committed to developing its business plan without the issuance of stock. The Company referenced the additional significant updates:\n CGrowth Capital Bond, Ltd. -- (financing)\n \n \n The Company is in the process of renewing and increased its bond offering in the United Kingdom to £45,000,000 British Pou...