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Georox Drilling Success at Coteau Lake and Additional Land Acquisitions
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About this update from Prospera Energy Inc.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n\nKELOWNA, BC, July 16, 2012 /CNW/ - Georox Resources Inc. (\"Georox\" or the \"Corporation\") (GXR:TSX-V; OF6A:FRA) is pleased to announce that the initial earning\n well on its Coteau Lake, Saskatchewan prospect (31.875% BPO, 21.25%\n APO) previously announced in an April 24, 2012 press release has been\n completed and swab tested at an average rate of approximately 400 bopd of light oil over a 7.5 hour period.  The well will be equipped and\n formally tested over the near term with production rates expected to be\n limited to approximately 150 bopd initially and progressively\n optimized.\n\n\nGeorox recently acquired a 25% interest in an additional 960 acres of\n oil and gas mineral rights adjoining the Coteau Lake prospect area of\n SE Saskatchewan from a private company.  The newly acquired land has 3D\n seismic information which identifies 3 additional potential drill\n targets.  Georox now has 3,040 gross (682 net) acres of oil and gas\n mineral rights in the light-medium Mississippian oil Coteau Lake\n prospect. 3-D seismic on the Coteau Lake prospect is now under review\n and at least one additional well is expected to be drilled on this\n prospect before December 1, 2012.\n\n\nGeorox also recently acquired Crown oil and gas mineral rights located\n in the Meekwap area of NW Alberta to hold a 100% interest in 1,440\n acres of land in this additional core light oil exploration area.\n\n\nBurkhard, Franz, Georox President, expressed satisfaction with these\n recent corporate developments stating that:  \"Our expansion of land\n holdings in the Coteau Lake project as well as at Meekwap in NW Alberta\n gives us two additional core areas and the opportunity to drill and\n participate in highly prospective, light/medium oil exploration\n opportunities.\"\n\n\nCautionary Statement:\n\n\nNeither the TSX Venture Exchange nor its Regulation Service Provider (as\n that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release.\n\n\nNo stock exchange, securities commission or other regulatory authority\n has approved nor disapproved the information contained herein. \n\n\nFORWARD-LOOKING STATEMENTS\n\n\nThis news release contai...