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Exxel Energy Corp. Provides Update on U.S. Leasing and Drilling Activities
Exxel Energy Corp. Provides Update on U.S. Leasing and Drilling Activities.
About this update from Xxl Energy Corp.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, June 8 /CNW Telbec/ - Exxel Energy Corp. (TSX-V: EXX) (the\n\"Company\") is pleased to provide an update on its recent lease acquisition\nactivities in the Columbia River Basin Project and its current operations in\nthe Piceance Basin Project.\n\nColumbia River Basin, Washington\n--------------------------------\n\nThe Company, through its wholly owned subsidiary Exxel Energy (USA) Inc.\n(\"Exxel\"), recently acquired oil and gas mineral rights to approximately\n125,400 acres in the Columbia River Basin. The acquisition increases Exxel's\ntotal leasehold position in the Columbia River Basin to over 290,400 acres.\nThe leasehold interests are undeveloped and Exxel's working interest is\n100 percent.\n\nPiceance Basin, Colorado\n------------------------\n\nThe Exxel/Dolphin joint venture (\"JV\") has acquired additional leasehold\ninterests in the Rifle Creek development project area increasing the total JV\nacreage to over 6,100 net acres. Exxel's ownership interest in the Rifle Creek\ndevelopment project is 75% or approximately 4,600 net acres.\nThe Exxel/Dolphin joint venture first operated well, the Biscuit Ranch\n10-31d, was drilled to a total depth of 9,250 feet, logged and production\ncasing set with well completion activities underway. The JV's second operated\nwell, the Mulvihill 15-32d, has been drilled to a total depth of 10,006 feet,\nlogged and production casing set with completion activities to commence in due\ncourse. Drilling has recently commenced on the JV's third operated well the\nPurkey Ranch 13-31b. Exxel owns a 75% working interest in each of the JV\noperated wells.\n\nFor further information concerning this announcement, please contact Neil\nMurray-Lyon or Christine Stewart of Renmark Financial Communications Inc. at\n(514) 939-3989.\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n\n","length":1965,"tagName":"div"}]