Business
Unitech Energy Resources Inc. Updates Exploration Program
Unitech Energy Resources Inc. Updates Exploration Program.
About this update from Decimus Oil Corp.
[{"type":"text","content":"\n\n\n\n\nCALGARY, Nov. 15 /CNW/ - Unitech Energy Resources Inc. (TSXV: URX)\nannounces that it continues to test its two recently drilled wells on its\nPaddle River prospect. Both wells encountered multiple reservoirs that\nexhibited the expected well log characteristics. On testing, the lower zones\nof both wells have proven water bearing and bridge plugs have been set to\nisolate those zones. An upper zone has tested gas with no water but requires\nstimulation to determine its ultimate productivity. Testing is ongoing and a\nsmall fracture/stimulation is being designed.\nUnitech Energy Resources Inc. further advises that it is preparing to\nre-enter two wells on its Goodwin Prospect, on lands that are owned 100% by\nthe company.\nUnitech Energy Resources Inc. uses LeadScan, its proprietary image\nanalysis and pattern recognition system, to assist in its focus on\nhigh-working-interest, lower risk oil and gas plays. Unitech Energy\nResources's website is www.leadscan.ca.\n\nExcept for statements of historical fact, this news release contains\ncertain \"forward-looking information\" within the meaning of applicable\nsecurities law. Forward-looking information is frequently characterized by\nwords such as \"plan\", \"expect\", \"project\", \"intend\", \"believe\", \"anticipate\",\n\"estimate\" and other similar words, or statements that certain events or\nconditions \"may\" or \"will\" occur. Forward-looking statements are based on the\nopinions and estimates of management at the date the statements are made, and\nare subject to a variety of risks and uncertainties and other factors that\ncould cause actual events or results to differ materially from those\nanticipated in the forward-looking statements, which include but are not\nlimited to risks inherent in the oil and gas industry, regulatory and economic\nrisks, and risks associated with the company's ability to implement its\nbusiness plan. The company undertake no obligation to update forward-looking\ninformation if circumstances or management's estimates or opinions should\nchange except as required by law. The reader is cautioned not to place undue\nreliance on forward-looking statements.\n\nThe TSX Venture Exchange has not reviewed, and does not accept\nresponsibility for, the adequacy or accuracy of this release.\n\n\n","length":2332,"tagName":"div"}]