CALGARY, Feb. 28 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) announces today that it has drilled, logged and cased the PME X-1001 well on its recently-acquired Puesto Morales Este Concession located in the province of Rio Negro in the Neuquen Basin, onshore Argentina.
The well encountered several zones of interest and will be evaluated once a service rig is available to conduct testing programs.
Petrolifera Petroleum Limited is a Calgary-based crude oil and natural gas exploration and production company with operations in Argentina, Colombia and Peru.
Forward Looking Information
This press release contains forward-looking information, including but not limited to planned testing of the PME X-1001 well, which has been cased for further evaluation. There can be no assurance that testing of this well will yield commercial results. The information is based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses and health, safety and environmental risks), the risk of commodity price and foreign exchange rate fluctuations, the uncertainty associated with negotiating with foreign governments and risk associated with international activity. Additional risks and uncertainties are described in the company's Annual Information Form which is filed on SEDAR at www.sedar.com.
Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in the company's securities should not place undue reliance on these forward-looking statements. Forward looking statements contained in this press release are made as of the date hereof and are subject to change. The company assumes no obligation to revise or update forward looking statements to reflect new circumstances, except as required by law.