GREY:WFREF - Post by User
Post by
Tommer3on May 28, 2014 12:09pm
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Post# 22605646
Two (2) more Montney well spud ANNOUNCEMENTS
Two (2) more Montney well spud ANNOUNCEMENTSThought I would share - as I believe this news release is no doubt ably referring to LONG RUNS that is adjacent to these spud announcements. Love to see more activity in the region and in all respect to all here will put more eyes on all the successes. HN recently hired Torrey Hill for US - IR Services and I am sure Long Runs name is being brought up as the significant player leading the way !!
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May 28, 2014 08:20 ET
High North Resources: Start of 2014 Montney Oil Drilling Program
CALGARY, ALBERTA--(Marketwired - May 28, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
High North Resources Ltd. (TSX VENTURE:HN) (the "Company" or "High North") is pleased to announce the start of their 2014 Montney oil development drilling program at the Company's Girouxville-Mclean property.
The Company's fourth well 08-21-076-21W5M, located on the northern portion of the Company's property, commenced drilling on May 22, 2014. The drill location is adjacent to a section of land which a neighbouring oil and gas producer has applied to drill four Montney oil horizontal wells on. Currently, coring of the target formation has been completed and management is encouraged by the presence of hydrocarbons.
The Company's fifth well located at 08-02-076-21W5M is scheduled to commence drilling in early June, 2014 and directly offsets a neighbour's Montney oil well which reported a 30 day Initial Production rate of 360 barrels of oil per day.
High North's Girouxville-Mclean property is located in Townships 075 to 076, Range 21 W5M, approximately 320 kilometres northwest of Edmonton, Alberta. The Company holds a 100 percent working interest in three horizontal wells producing 28 degree API oil from the Montney Formation. High North now holds a contiguous block of lands comprising 20.25 sections with current drilling, directly offsetting significant production from a neighbouring oil and gas producer.
As of June 1, 2014, the Company anticipates it will have earned a 100 percent working interest in 38.25 sections of land with prospective Montney rights through acquisitions of Crown land and wells drilled to date. The Company expects to drill a minimum of four horizontal wells per section targeting Montney oil on these prospective lands. The Company additionally can earn an additional 134.25 sections of Montney rights through future drilling commitments.