|Fri Nov 29, 2002|
New Well Completed
| ||Vancouver, B.C.- The Company is pleased to announce the completion of its sixth producing well called the Enchant. Tie-in of the Enchant Well to a third party production facility is expected to occur some time in January, after which a stabilized flow rate can be determined. The Enchant Well will produce both oil and solution gas from the Turner Valley formation . The company was carried for the cost of the drilling and casing completion of the Enchant Well, and will retain a 20% revenue interest. Follow up drilling locations may be possible on this location.|
The Company has an inventory of over fifteen oil & gas leases that it has acquired over the past year in Alberta, with an average interest of 37% per lease. The Company is currently examining drilling targets with its partners on a number of these leases.
On Behalf of the Board
Mount Dakota Energy Corp.
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