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Post by
wofatson Jan 17, 2005 2:52pm
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Post# 8442770
Copper Creek learns of royalty interest purch
Copper Creek learns of royalty interest purchCopper Creek learns of royalty interest purchase
Copper Creek Ventures Ltd (TSX-V:CPV)
Shares Issued 20,006,843
Last Close 1/14/2005 $0.11
Monday January 17 2005 - News Release
Mr. Bing Jung reports
TALISMAN ENERGY PURCHASES ROYALTY INTERESTS IN 6-31-20-3W5 WELL
Copper Creek Ventures Ltd. has been informed by the operator of the 6-31-20-3W5 well at Turner Valley, Alta., that Talisman Energy has purchased all the royalty interests held by Anadarko and NCE Petrofund in the 6-31-20-3W5 well in which the company has a 25-per-cent working interest.
Talisman Energy is currently drilling on oil and gas leases adjacent to those held by Copper Creek and its partners. Talisman is actively acquiring oil and gas leases in the west and east side of the nine sections (nine square miles) in which Copper Creek has options and/or working interests of 12.5 per cent to 25 per cent.
The operator also advised the company that Cal-Frac Well Services has been contracted to frac the Home and Cadomin gas pay zones on the 6-31-20-3W5 well. Both the Home and Cadomin sands combine to represent 90 feet of potential gas reservoir. Cal-Frac is expected to be on the well site by Jan. 21, 2005. Flow testing of the well will follow immediately after frac completion. Proving economic viability of the gas well would indicate the potential of a significant new gas field at Turner Valley, Alta.
Results will be forthcoming as they are received from the operator.