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Exxel Energy Corp. Provides Update on Activities in Columbia River Basin
Exxel Energy Corp. Provides Update on Activities in Columbia River Basin.
About this update from Xxl Energy Corp.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, BC, Sept. 20 /CNW Telbec/ - Exxel Energy Corp. (TSX-V: EXX)\n(the \"Company\") announces the following lease update and report on activity in\nthe Columbia River Basin (\"CRB\"). Exxel Energy (USA) Inc. (\"Exxel\"), a wholly\nowned subsidiary of the Company, recently acquired additional oil and gas\nmineral rights in the basin, increasing Exxel's total leasehold position in\nthe CRB to approximately 325,000 net acres. The leasehold interests are\nundeveloped and Exxel's working interest is 100 percent. Exxel intends to\ncontinue to actively acquire additional acreage to further consolidate its\nposition within the CRB. The Company is currently reviewing its options for\nthe development of its substantial acreage in the basin.\nCliff Adams, President and CEO, comments, \"We are excited about recent\ndevelopments in the Columbia River Basin, which appears to be an emerging\nbasin centered gas play being driven by the efforts of major and large\nindependent oil and gas companies. In addition, recent announcements and the\npermitting of new wells by several operators have been very encouraging and\npoint to the continued emergence of this frontier gas basin.\"\n\nIn the interests of providing Company shareholders and potential\ninvestors with information regarding the Company, including the Company's\nassessment of its and its subsidiaries' future plans and operations, certain\nstatements included in this press release may constitute forward-looking\ninformation or forward-looking statements (collectively, \"forward-looking\nstatements\"). All statements contained herein that are not clearly historical\nin nature are forward-looking, and the words \"anticipate\", \"believe\",\n\"expect\", \"estimate\" and similar expressions are generally intended to\nidentify forward-looking statements. Similarly, forward-looking statements in\nthis press release include, but are not limited to anticipated developments of\nthe Company's drilling project in and the timing thereof, the Company's\ndrilling project in and the timing thereof, capital investment levels and the\nallocation thereof, pipeline capacity, government royalty rates, reserve and\nresources estimates, the level of expenditures for compliance with\nenvironmental regulations, site restoration costs including abandonment and\nreclamation costs, exploration plans,...