25% =to 60% uptik what does 75% getI know we are waiting on Sproule Report but one has to wonder about the uptick on CEX who according to report have only a 25% interest in what could be the driving force behind their upturn in VALUE Mac
CALGARY, ALBERTA, Jan 25, 2006 (CCNMatthews via COMTEX) --
Contact Exploration Inc. (TSX VENTURE:CEX) is pleased to announce that a joint CBM well being drilled at Contact's Springhill, Nova Scotia property by Stealth Ventures Ltd. (TSX VENTURE:SLV) commenced drilling operations on January 22, 2006.
Stealth is drilling a horizontal CBM well to test productivity of natural gas from the historical coal beds of Cumberland County, Nova Scotia. Contact is carried for a total expenditure of $1.6 million on this project. After the above expenditure, Contact will have a 25% working interest in this 177,000 acre CBM Exploration Permit.