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HEADWATER EXPLORATION INC. PROVIDES FOURTH QUARTER PRODUCTION RESULTS AND ENTRANCE INTO A NEW OPERATING AREA
HEADWATER EXPLORATION INC. PROVIDES FOURTH QUARTER PRODUCTION RESULTS AND ENTRANCE INTO A NEW OPE...
About this update from Headwater Exploration Inc.
[{"type":"text","content":"\n\n\n\n HEADWATER EXPLORATION INC. PROVIDES FOURTH QUARTER PRODUCTION RESULTS AND ENTRANCE INTO A NEW OPERATING AREA\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Jan. 6, 2025\n \n\n /CNW/ - Headwater Exploration Inc. (the \"\n \n Company\n \n \" or \"\n \n Headwater\n \n \") (TSX: HWX) is pleased to report fourth quarter average production volumes of approximately 21,500 BOE/d and significant land expansion in the\n \n Clearwater\n \n fairway.\n \n\n\n Greater Pelican Area\n \n\n\n Headwater is excited to announce a new partnership with the Bigstone Cree Nation (\"BCN\").  A new farmout agreement supported by the Chief and Council of the BCN contemplates Headwater drilling up to four commitment wells with commensurate bonus payments paid by the Company, which would result in Headwater earning leases across 34.5 sections of highly prospective land in the Greater Pelican area. The agreement is subject to final IOGC (as defined below) regulatory approval. Headwater has started the surface land acquisition process and is anticipating drilling our first multi-lateral earning well, targeting the Wabiskaw formation late in the first quarter of 2025.\n \n\n In addition, Headwater has successfully acquired 23 sections of land in the Greater Pelican area through crown land sales which offset the lands accessed through the Bigstone Cree Nation agreement.\n \n\n The Headwater team has identified multiple prospective horizons within the newly acquired 57.5 section Greater Pelican area and plans to test 2-3 of the prospects within the 2025 calendar year.\n \n\n\n Greater Peavine Area\n \n\n\n Headwater has successfully closed on a 10 section land acquisition in the Greater Peavine area. The new lands, which offset our core Seal lands, offer targets in the multi-zone\n \n Falher\n \n and\n \n Bluesky\n \n formations. With the newly acquired lands, Headwater now has 65 net sections of land in the Greater Peavine area.\n \n\n\n Land Acquisition and Exploration\n \n\n\n The Headwater team continues its pur...