Business
Softrock Minerals Ltd. - Update/clarification to prior news releases
Softrock Minerals Ltd. - Update/clarification to prior news releases.
About this update from Criterium Energy Ltd
[{"type":"text","content":"\n\n\n\n\nCALGARY, Jan. 9 /CNW/ - Softrock Minerals Ltd (SFT) wishes to clarify and\nupdate prior press releases announced May 09, 2005 and October 31, 2005 as\nfollows:\n\nMAY 09, 2005\n\nSoftrock Minerals Ltd (SFT on the TSX Venture Exchange) had filed its\nreserve report on SEDAR for the end of 2004.(NI 51-101) as prepared by\nindependent consultants, Trimble Engineering Associates Ltd of Calgary\nAlberta, stating that the company's share of proven plus probable oil, is\n178,800 barrels, having a present worth, before income taxes and using\nforecast pricing at 5%, of $146,000, or at 10%, $123,000.\nThese reserve values do not represent fair market value.\nThe pricing schedule and assumptions used are described in the linked\nreport to SEDAR. The values given are an increase over last years of 48% due\nto higher oil prices plus pushing ahead the ultimate time when the wells will\nhave to be abandoned.\n\nDownload the Softrock Oil Reserves report on SEDAR website.\n\nOCTOBER 31,2005\n\nSOFTROCK INCREASES PRODUCTION\n\nSoftrock Minerals Ltd (SFT) further to its Oct 31, 2005 news release\nwould like to clarify that its 30% interest well in the Manitou Lake area of\nwestern Saskatchewan, (SSEC Manito A9-31-44-27W3) on a two week production\ntest averaged between 60 and 70 bopd (12 to 14 degrees API), 18 to 22 bopd\nshare to SFT, with no water.\nFrom 3-D seismic there appears to be at least one more productive\nlocation on the lease and as well, the group in which Softrock continues to\nhold a 30 percent interest, has been successful in acquiring an adjoining\nlease with seismic indicating four or five more locations.\nSoftrock's present other daily production consists of override oil which\naverages 2.6 bopd, but unlike working interest oil does not have royalties or\noperating costs deducted from it.\nOn behalf of the Board of Directors\n\nThe Honourable Nick Taylor. President and Director\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy of this release\n\n\n\n%SEDAR: 00005001E\n\n\n","length":2090,"tagName":"div"}]