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Vulcan Minerals Inc. Hurricane No. 1 Operations Completed
Vulcan Minerals Inc. Hurricane No. 1 Operations Completed.
About this update from Vulcan Minerals Inc.
[{"type":"text","content":"\n\n\n\n\nStock Symbol: TSX: VUL\nShares issued: 28,510,884\n\nST. JOHN'S, Nov. 18 /CNW/ - Vulcan Minerals Inc. (\"the Company\" TSX-V:\nVUL), announces that operations at the Hurricane No. 1 well in Western\nNewfoundland are completed. The well was drilled to a depth that tested the\ngeologic objectives. Numerous gas shows were encountered while drilling. The\nwell has been logged and several drill stem tests were carried out. None of\nthe tests encountered commercial hydrocarbons and the well will be plugged and\nsuspended for possible future re-entry and further evaluation. The main target\nbeneath the evaporite section flowed approximately 36 barrels of water per day\nbased on drill stem test recovery and indicated good reservoir\ncharacteristics. Oil shows in the form of fluorescence were encountered in the\ntarget and suggest that the zone was subsequently flushed with water at this\nlocation. The presence of gas shows over a gross interval of 300 metres also\nindicates that the petroleum system within the basin extends at least 15 km\nsouth of the Flat Bay oil discovery. This bodes well for the prospectivity of\nseveral targets within the Hurricane Structure which extends over a potential\narea of approximately 100 km2 and will require several wells to test its\nvarious fault compartments.\nThe Company will now move its rig 3 km west to drill test an updip\nportion of the Hurricane Structure. The Hurricane No. 2 well will test the\nFischells Brook conglomerate and an underlying seismically anomalous section\nnot previously drilled.\n\nMagnetic Survey/Coal Bed Methane\n--------------------------------\n\nThe Company has entered into an agreement with Aeroquest Limited to\nacquire approximately 4,000 line kilometres of airborne high resolution-\nmagnetics over the Company's entire land package in the Bay St. George Basin.\nSurveying should commence shortly. This data combined with a growing geologic\ndatabase will greatly assist the exploration of the basin. As well, the\nmagnetic survey will enhance the structural interpretation of the St. George's\nCoalfields which are being assessed for their coal bed methane potential.\n\nThe TSX Venture Stock Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n%SEDAR: 00003997E\n\n\n","length":2356,"tagName":"div"}]