TSX:PVS.PR.G - Post by User
Post by
wofatson Sep 13, 2001 5:00pm
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Post# 4192003
Exellent News.!!!
Exellent News.!!!PRIORITY VENTURES LTD ("PVS-V;PTVNF-0") - Begins Well Application Process
Priority Ventures Ltd. is pleased to announce that it has begun the well authorization process with the Oil and Gas Commission in Fort St. John. Priority intends to apply for as many as four well authorizations on Vancouver Island. The target to be drilled is coalbed gas. Earlier this summer Priority drilled three coal exploration boreholes to determine coal thickness, gas content and several other characteristics important for evaluation of both the coal and coalbed gas resource.
The first well location will be 100m from one of the three exploration boreholes drilled this summer. The permit under which the coal exploration boreholes were drilled did not allow for any gas production testing. Geophysical logs, gas saturated drill core samples and elevated pressure in the borehole provide the basis for this location.
Initial discussions with representatives from the Oil and Gas Commission have given Priority encouragement that the permitting process will be relatively timely. Priority is working toward the goal of having Vancouver Island gas on production by year end.
For investor relations see our website at www.priority-pvs.com or call 1-877-212-3233.
On behalf of the Board of Directors,
NEIL SWIFT