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Result Energy Inc. Provides Exploration Update; Comments on Recent Alberta Royalty Changes
CALGARY, Nov. 12 /CNW/ - Result Energy Inc ('Result'; TSX-V: RTE) is pleased to provide the follo...
About this update from Route 109 Resources Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, Nov. 12 /CNW/ - Result Energy Inc ('Result'; TSX-V: RTE) is\npleased to provide the following exploration activity update. The Company will\nalso be presenting a corporate review at the 2007 SEPAC Investor Conference in\nToronto on November 14, 2007.\n\n\nCentral Alberta Area\n\n- In the Windfall area, Result recently completed the drilling and\n casing of its first well (33.33% net) targeting the Devonian Nisku\n liquids-rich gas play. This well will be completed and tied in as\n soon as possible, with an on-stream target date of late December.\n A second well (28% net) on this project is expected to commence\n drilling within the next two weeks.\n\n- At Modeste, the Company is currently conducting well stimulation and\n testing operations on one of its recently-drilled Viking gas\n prospects (60% net). Initial flow rates are encouraging; and well\n evaluation is ongoing.\n\n- At Kakwa, Result has participated in the drilling of a second deep\n basin style gas prospect (25% net). Six potentially productive zones\n have been identified in this well. Completion and stimulation\n operations commenced in early November, and at this time, the Company\n is cautiously optimistic and expects to comment on aggregate flow\n rates by year-end.\n\nPeace River Arch Area\n\n- At East Eureka, Result has acquired a 100% working interest on a new\n Triassic oil play. An exploratory test of this prospect is scheduled\n for the first quarter of 2008.\n\n- At Clear Hills North, Result and partners plan to acquire a regional\n airborne remote sensing survey for Gilwood oil potential prior to\n year-end 2007. Under the terms of the proposed agreement, Result's\n partner will bear the full cost of the survey to earn a working\n interest in certain Company lands and the option to participate in\n the drilling of Devonian targets within the area of interest.\n\nSaskatchewan Properties\n\n- The Company has recently completed the drilling of a nine-well infill\n program (50% net) at its North Dodsland Viking project. These wells\n are expected to be completed, stimulated and tied-in before\n December 1st. Recent reductions in the cost of oilfield services have\n improved the economics on this shallow gas play.\n\nNortheastern British Columbia\n\n- Over the past twelve months, the Company has been quietly building a\n significant land pos...