Business
Georox Announces Commencement of its 9 Well Oil-Targeted Drilling Program
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About this update from Prospera Energy Inc.
[{"type":"text","content":"\n\n\n\n\n\nNot for distribution to U.S. news wire services or for dissemination in\n the United States\n\n\nKELOWNA, BC, Dec. 5, 2011 /CNW/ - Georox Resources Inc. (\"Georox\"or the\n \"Corporation\") (GXR:TSX-V; OF6A:FRA) is pleased to announce the\n commencement of its drilling program that takes place over the next\n four months as follows:\n\n\n\n\n \n\n    \n\n\na) \n\n\nSilverdale Sparky Non Channel Project\n\n \n \n \n \n \n \n \n\nThe first well has been drilled and cased. The second well is currently\n being drilled. Two other  wells, currently awaiting off target\n approvals, are expected to be added to the drilling program during\n December. Northern Blizzard Resources Inc. is the operator and Georox\n has a 15%  working interest in these wells. Seven wells were\n successfully drilled by the operator during the  third quarter, 2011\n and are in production at a rate of 55 bopd net to Georox.\n\n \n \n \n \n \n\n \n\n\nb)    \n\n\nSilverdale GP Channel Project\n\n \n \n \n \n \n \n \n\nThe horizontal drilling rig will be moving onto the first drilling\n location in mid December as part of a four (4) well horizontal drilling\n program operated by Husky Energy. Georox has a 6.9%  working interest\n in these wells.\n\n \n \n \n \n \n\n \n\n\nc)    \n\n\nNorthern Alberta Farm-in Project\n\n \n \n \n \n \n \n \n\nIn January and February 2012, Georox plans to commence a two well\n drilling program as part of  its farm-in obligations in northern\n Alberta. Georox has a 75% working interest before payout (45% working\n interest after payout) in both wells and is the operator of the program\n targeting oil.\n\n \n \n \n \n\nAbout Georox\n\n\nGeorox is a Canadian natural resource company engaged in the\n acquisition, exploration and development of oil and gas properties in\n Western Canada. The Common Shares trade on the TSX Venture Exchange\n under the symbol GXR and on the Frankfurt Stock Exchange under the\n symbol OF6A.\n\n\nCautionary Statement:Neither the TSX Venture Exchange nor its Regulation Service Provider (as\n that term is def...