NEWS Strongbow Resources to Drill Well in Compeer
Location: Big Lake Compeer 5-29-33-2W4
Mar 13, 2012 7:15:00 AM
2012 GlobeNewswire, Inc.
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HOUSTON, March 13, 2012 (GLOBE NEWSWIRE) -- Strongbow Resources Inc. (STBR.OB) ("Strongbow" or "the Company"), announces its plan to drill a well at 5-29-33-2W4 as part of a farm-in earning eight sections of land (the "Lands"). The well will target the Viking Formation and test the Bakken Formation. The decision to complete the well horizontally in either zone will be based upon review of core and log data. The Company intends to operate the well in the name of Big Lake Energy Ltd. Upon well completion, the Company will earn a 100% working interest in the well and the Lands. Future production will be subject to a sliding scale royalty to the farmor and Alberta Crown Royalty. The well (Big Lake Compeer 5-29) will likely spud in the month of April depending upon road bans and rig availability.
About Strongbow Resources Inc.
On February 21, 2012 Strongbow executed an agreement through which it acquired the right to earn an undivided 100% working interest in a Petroleum and Natural Gas License covering eight (8) sections of land (5,120 acres, more or less) located in the Compeer Area in the Province of Alberta, Canada. It plans to begin exploration of that acreage immediately. Strongbow is also negotiating a number of additional oil and gas leases through which it intends to expand its operations in Canada and the United States.