Business
Unitech Energy announces commencement of drilling
Unitech Energy announces commencement of drilling.
About this update from Decimus Oil Corp.
[{"type":"text","content":"\n\n\n\n\nCALGARY, Aug. 23 /CNW/ - The Company is pleased to announce that it has\nfarmed-out a working interest in its 100%-owned, 2 3/4 section Paddle River\nprospect to an independent industry partner. The farm-out agreement calls for\nthe farmee to provide 75% of the drilling, completion, and tie-in funds in\nreturn for 37.5% of production. The farmee also has an option to participate\nin additional wells within the prospect. The Paddle River prospect targets the\nEdmonton/Scollard/Belly River sands which are evident on logs from wells\npreviously drilled on the subject lands. A drilling rig is currently moving to\nthe prospect and two test wells are to be drilled within 2 weeks of this\nrelease.\nThe Company further announces that, consistent with its objective of\nacquiring high working interest prospects, it has acquired a 100% interest in\ntwo additional sections of land at a recent government land sale.\n\nUnitech Energy Resources Inc. is a TSXV-listed company that trades under\nthe symbol \"URX\". The Company uses LeadScan, its proprietary image analysis\nand pattern recognition system, to assist in its focus on\nhigh-working-interest, lower risk, oil and gas plays. The Company website is\nat www.leadscan.ca\n\nThe TSX Venture Exchange has not reviewed, and does not accept\nresponsibility of the adequacy or accuracy of, this release.\n\n\n\n","length":1417,"tagName":"div"}]