newsMIRA PROPERTIES LTD.
118 West 2nd Ave.
Vancouver, BC Canada
V5Y 1C2
Tel: 604-677-2787 Fax: 604-484-4002
Email: info@miraproperties.com
News Release
South Texas Gas Property Acquisition
Vancouver, BC, Dec 3, 2001 – Mira Properties Ltd. (MPI.CDNX) announces that it has signed a letter of intent with Sovereign Chief Ventures Ltd., a CDNX listed company located in Abilene, Texas. Mira will be acquiring a 25% working interest in the Curlee-Griffith #1 well and acreage for $75,000 U.S. and has an option to participate in the development of the Welder 1,2,3,4, and 5 wells on a cost basis. The total project covers 504 acres and is located in Bee County, Texas.
The Curlee-Griffith #1 well was tested and produced 1.644 million cubic feet of gas and no water with the gas gravity 0.70 during a five-hour flow test. The testing was done with the 8/64-inch choke size, flowing pressure 1,410 psig, shut-in pressure 1,425 psig and the line size was 2.067-inch diameter.
The participation of Mira Properties Ltd. is subject to approval of the Canadian Venture Exchange.
On behalf of the Board
Craig Walker, President
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release