The Bolero 1-23 Well=Multiple Oil & Gas ZonesGolden Opportunity Resources Inc. - Big Snowy Encounters
Multiple Oil and Gas Bearing Zones in Bolero 1-23 Well
6000 Feet Northwest of Golden Opportunity Hole
--------->>>__NEWS__<<<-------------------
MISSOULA, MT, Jul 13, 2004 /PRNewswire-FirstCall via COMTEX/
Golden Opportunity Resources, Inc., (OTC Pink: GDNO) a Nevada
Corporation.
Golden Opportunity Resources (GDNO-PK) has been informed by
the company's joint venture partner and project operator, Big
Snowy Resources LP, that the drilling of a well located 6,000
feet northwest of the hole Golden Opportunity is set to drill
has been completed to target depth. The Bolero 1-23 Well has
been cased and cemented. The primary target, the Tyler C Sand,
was successfully intersected at 2,830 feet to 2,860 feet (863
to 872 metres).
Schlumberger Oilfield Services Inc. completed two log reports to
ensure accuracy of the data and has provided estimates for the
potential of oil and gas in each of the five zones encountered.
--->> All five zones demonstrate potential commercial-grade and
significant quantity of hydrocarbons (oil and gas) <<---, which is
further corroborated by similarities to other neighboring offset
wells, both within 400 feet (122 metres) of the Bolero 1-23 well.
President of Golden Opportunity Resources William Morton stated
"We at Golden Opportunity are extremely encouraged by the recent
discovery made just 6,000 feet from our hole which is set to be
drilled in the next 10 days. Big Snowy has advised the company
that the discovery hole is in the same Tyler formation as Golden
Opportunity's hole to be drilled. This recent development just
affirms our belief that the program we are set to embark upon is
first rate. We are pleased to be working with Big Snowy and their
team of experts with vast experience in this area."