Champlain Resources Inc. Announces Incorporation of US Subsidiary Champlain Resources, LLC to Acquire and Explore Marcellus Shale in Pennsylvania
Calgary, Alberta CANADA, July 17, 2008 /FSC/ - Champlain Resources Inc. (CPL.H - TSX Venture), listed on the NEX board of the TSX Venture Exchange under the trading symbol "CPL.H" has recently incorporated a US subsidiary, Champlain Resources, LLC in Pennsylvania to acquire the Marcellus shale leases previously announced. The 100% owned US subsidiary will acquire the US leases and will then begin an aggressive exploration program.
The Marcellus shale runs from the southern tier of New York, through the western portion of Pennsylvania into the eastern half of Ohio and through West Virginia. In Pennsylvania, the formation extends from the Appalachian plateau into the western valley and ridge. Independent sources, such as Terry Englander, a geoscience professor at Pennsylvania State University, and Gary Lash, a geology professor at the State University of New York at Fredonia, have made public estimates that the Marcellus shale might contain an estimated undiscovered resource of more than 500 trillion cubic feet of natural gas (Source: Geology.com).
For further information contact:
Mr. Troy D. Mochoruk
Chairman & CEO:
Tel: (403) 618-8989
E-mail: [email protected]
www.champlainresources.com
This press release contains certain forward-looking statements. These statements are based on Champlain's current expectations and assumptions that could prove to be incorrect. The forward-looking statements are not guarantees of future performance and undue reliance should not be placed on them. Actual results may differ materially as a result of risks, uncertainties and other factors, such as: changes in the general economic, regulatory, industry, market and business conditions, fluctuations in commodity prices and currency exchange rates; the successful and timely implementation of growth projects; imprecision of reserve estimates; environmental risks; and competition from other industry participants. Also affecting the accuracy of any forward-looking statement is the availability of capital required to implement future operational plans, uncertainties resulting from potential delays or changes in plans, among others.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Source: Champlain Resources Inc. (CPL.H - TSX-V)
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com