GREY:PPOZF - Post Discussion
Post by
Bullboards_Seal on Jul 29, 2011 1:53pm
NR - Passport Energy Ltd. Provides Saskatchewan an
is pleased to announce an update on its Hardy S1A4-16-4B4-9-04-21W2 well (the “Hardy 4-16 well”) located in south-easternSaskatchewan based on information provided to us by its partners American EagleEnergy Inc. and Eternal Energy Corp.
The first development well in the field, Hardy S HZ 1A4-16-4B4-9-4-21W2, wasdrilled and cased in May, 2011. Completion plans included a 29-stage fracturestimulation of the Bakken horizontal well that placed a total of 429,000 poundsof sand and 6,400 barrels of water in the 1370 meter lateral section. The wellis currently being evaluated and is projected to be placed on pump in the firstweek of August. Additional locations are being considered for the 2011 drillingprogram pending the outcome of the well testing.
We are pleased to report we have hired Matt Donais Geol. I.T. as a projectconsultant to perform mapping and exploration work of our land package inNorthern Montana. Focus will be on the Alberta Bakken and several otherprospective formations within the area. The company continues to evaluate its“SweetGrass Arch' font-size:='9pt;' font-family:='"Arial' prospect,='located' in='recent' and='Rosetta' counties,='Montanaof' which='it' currently='owns' 60%='in' over='43,000' gross='acres' of='positive' months='there' have='been' a='number' activities='ofexploration,' appraisal='and' development='drilling' programs='in' the='areaby' several='companies' including='Anschutz' exploration='(private),' newfieldexploration='(NFX)' resources='(Rose).
About Passport Energy Ltd.
Passport Energy is a junior natural resource exploration company focused on theacquisition, exploration, and development of economically viable naturalresources, with a focus on Bakken oil and gas projects. The Company currentlyowns 60% in over 43,000 gross acres of oil and gas leases in "TheSweetGrass Arch" Prospect, located in Toole and Pondera Counties, Montana.The SweetGrass Arch prospect has significant gas potential and Bakken oilpotential. The Company has entered into a Farm-in Agreement allowing it to earna 25% interest on up to two wells and associated acreage in the Hardy BakkenField in south-eastern Saskatchewan, while the Company continues to seekadditional oil and gas opportunities.
The Company trades on the CNSX under the trading symbol “PPO”.
The CNSX does not accept responsibility for the adequacy or accuracy of thisnews release.
For more information, please refer to the Company’s public documents availableon SEDAR (www.sedar.com).
For further information contact:
Frank Port
President & COO - Director
Tel: 1-403-930-4063
E-mail: fport@passportenergy.com
Website: www.passportenergy.com
Visit Passport Energy Ltd Website:www.passportenergy.com
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