News Out
Desmarais Updates Virginia Hills Prospect
Calgary, Alberta – February 26, 2013 – Desmarais Energy Corporation (TSXV: DES)
(the “Corporation” or “Desmarais”) announces that a Farm-Out horizontal well in the
Virginia Hills area located at 1-20-64-13-W5M has spudded, with drilling scheduled to
take approximately 25 days. Pursuant to the farm-out arrangements, Desmarais has a 5%
before payout royalty interest on 32.598% of production and a 30% working interest on
32.598% after payout in S/2 of 20-64-13-W5M.
The Virginia Hills area has been the recent focus of a number of industry players who
have utilized horizontal drilling technology and multi-stage acid fracture stimulation to
unlock light oil reserves in the Beaverhill Lake formation.
Desmarais will provide further information respecting drilling operations on the property
as it becomes available.