Business
Western Canada Energy Ltd. Expands Interest In Elmworth Gas Cap
Western Canada Energy Ltd. Expands Interest In Elmworth Gas Cap
About this update from Wescan Energy Corp.
[{"type":"text","content":"Western Canada Energy Ltd. Expands Interest In Elmworth Gas Cap\n\n\n\nWestern Canada Energy Ltd. Expands Interest In Elmworth Gas Cap\n\nCalgary, Alberta CANADA, September 22, 2008 /FSC/ - Western Canada Energy Inc. (WCE - TSX Venture), (the \"Corporation\") has acquired a 100% working interest in two sections of land covering the gas cap to the Elmworth Doe Creek \"B\" Oil Pool. This interest augments a 48% working interest in one section covering this gas cap to which the Corporation's third party engineers, Fekete & Associates, have already assigned proven non-producing and probable gas reserves of 156 mmcf with a net present value of $933,900 (10% discount rate). The Corporation is seeking regulatory approval to exploit the gas cap with the re-completion of an existing well on the lands and the drilling of two new Doe Creek test wells to a depth of only 1,100 metres. Regulatory approval of this project is expected early in 2009. \n\nFor further information please contact: Daniel P. O'Neill, Chief executive officer, or R. W. Shepherd, President, Chief Financial Officer and Corporate Secretary, Western Canada Energy Ltd., Telephone (403) 266-0955, email: [email protected] \n\n\nCertain statements contained herein constitute forward-looking statements. The use of any of the words \"anticipate\", \"continue\", \"estimate\", \"expect\", \"may\", \"will\", \"project\", \"should\", \"believe\", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this report should not be unduly relied upon. These statements speak only as of the date of this presentation. The Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.\n\n\nTHE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.\n\n\n\nSource: Western Canada Energy Ltd. (...