Business
Lochaird Energy Inc. Manitoba Farm-in
Lochaird Energy Inc. Manitoba Farm-in
About this update from Reconnaissance Energy Africa Ltd.
[{"type":"text","content":"Lochaird Energy Inc. Manitoba Farm-in\n\n\n\nLochaird Energy Inc. Manitoba Farm-in\n\nCalgary, Alberta CANADA, September 16, 2008 /FSC/ - Lochaird Energy Inc. (LEN - TSX Venture), under its wholly owned subsidiary Lochaird Energy Corp., (\"Lochaird\") has farmed in on 2438 net hectares (6095 net acres) in one township in Manitoba. Lochaird has the right to earn 60% of the farmed-out interest in the rights below the Spearfish formation by drilling earning wells. Lochaird's evaluation of this project indicates Mission Canyon and Bakken formations exploratory leads and will perform a 3D seismic program over the most prospective lands.\n\nThe lands follow the North Dakota trend in the development of the Bakken play with economic vertical and horizontal wells. Wells have been completed and have produced oil from the Mission Canyon offsetting the earning lands. \n\nThe first well at Lochaird's Tilston project in Manitoba, in which Lochaird had a 50% working interest, was completed and tested water with an oil show in the Mission Canyon formation. Lochaird is planning an adjacent well to test the Mission Canyon and the Bakken, to be drilled in conjunction with a drilling program in the new project area.\n\nTo fully exploit these opportunities Lochaird will utilize its cash flow and the raising of additional necessary funds.\n\nThe TSX Venture Exchange neither approved nor disapproved the contents of this press release.\n\nAdvisory: \n\nCertain information regarding the Corporation including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with oil and gas exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserve estimates, environment risks, competition from other producers and ability to assess sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. \n\nFor further information, please contact:\n\nGrant S. Blakely\nPresident and Chief Executive Officer\nLochaird Energy Inc.\nPhone: (403) 514-0955\nFax: (403) 514-0956\nEmail: [email protected]\n\n\nSource:&nb...