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Grove Reports on D-14 Well, Slovenia
Grove Reports on D-14 Well, Slovenia.
About this update from Surge Copper Corp.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, May 12 /CNW/ - Grove Energy Limited (\"Grove\" or the \"Company\")\n(TSX-V & AIM: GRV), the oil and gas exploration company with its primary\nassets in Europe and the Mediterranean Margin, reports that the 100 meter well\ndeepening and testing program conducted in April and May at the D-14 well in\nthe Dolina Field has been completed.\nLogs of the E1 sands near the bottom of the approximately 2,900 meter\nwell showed good correlation with the E1 sands in the Petisovci-Globoki (\"Pg\")\n5 well about 4km west of D-14. After fracture stimulation the Pg5 well\nproduced significant quantities of gas in the Petisovci Field. However, gas\nflows during open-hole testing of the D-14 well were insignificant and the\nwell has been suspended.\nThe Company has been advised by Loon Energy Inc. (\"Loon\") and Nemmoco\nSlovenia Corporation (\"Nemmoco\") that they wish to undertake and fund further\nevaluations. Grove decided not to participate in such additional work and\ntherefore, the costs and obligations of further work will be carried out under\nthe sole-risk provisions of the farmout agreement by Loon and Nemmoco.\n\nGROVE ENERGY LIMITED\n\n\"Anthony Hawkshaw\"\n------------------\nAnthony Hawkshaw, Chief Financial Officer\n\nSome of the statements contained in this release are forward-looking\nstatements. Forward looking statements include but are not limited to,\nstatements concerning estimates of recoverable hydrocarbons, expected\nhydrocarbon prices, expected costs, statements relating to the continued\nadvancement of the Company's projects and other statements which are not\nhistorical facts. When used in this document, and in other published\ninformation of the Company, the words such as \"could,\" \"estimate,\" \"expect,\"\n\"intend,\" \"may,\" \"potential,\" \"should,\" and similar expressions are\nforward-looking statements. Although the Company believes that its\nexpectations reflected in the forward-looking statements are reasonable, such\nstatements involve risk and uncertainties and no assurance can be given that\nactual results will be consistent with these forward-looking statements.\nVarious factors could cause actual results to differ from these\nforward-looking statements including the potential for the Company's projects\nto experience technical or mechanical problems, geological conditions in t...