|Wed Oct 31, 2001|
Work Commenced on Farrow Well
| ||Vancouver, B.C.- The Company has commenced on the Farrow well, testing a Glauconite channel re-entry located about 70 miles south-east of Calgary, Alberta. The Company has a 22.5% working interest in the well and has utilized an existing wellbore complete with surface casing, and will test a known oil zone at depth. The success of the Farrow well could result in multiple wells being drilled on this property. The Company will announce results from the Farrow Well when available. |
The Company also intends to participate in a 30% working interest in a test well in the Cherhill area of Alberta, located approximately 80 miles east of Edmonton. This property, recently acquired with other partners at the Crown sales in Alberta, will test an oil & gas zone in the Belly River Group. The company expects spudding of this Cherhill Well in early December.
The Company is pleased to announce that all three of its producing wells, the Siverson 1-X, the Garrington #1, and the Garrington #2, are maintaining steady production levels. The Garrington #2 well, has stabilized with the aid of a pump-jack to help lift the liquid components from this horizontal well. The Company is currently interpreting geologic and geophysical data on all of its recent land acquisitions, and will announce proposed drilling targets as they become known. The Company also wishes to announce that it will be entering into an investor relations program with SJK Equity Ltd., for a three-month test period, subject to renewal at the end of this period. Compensation for this investor relations service will be $10,000.00 per month. This agreement will be subject to the approval of the Canadian Venture Exchange.
ON BEHALF OF THE BOARD
The Canadian Venture Exchange has not reviewed and does not accept responsibility for adequacy and accuracy of the contents of this news release
You can view the Next News Releases item: Tue Nov 27, 2001, Farrow Well Successful
You can view the Previous News Releases item: Thu Jul 26, 2001, MOUNT DAKOTA ACQUIRES ADDITIONAL PROPERTIES; REPORTS EARNINGS
You can return to the main News Releases page, or press the Back button on your browser.