VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 13, 2014) - Super Nova Petroleum Corp., (CSE:SNP)(PINKSHEETS:SNOVF) (the "Company" or "Super Nova" or "SNP") is pleased to report that the Augusta Krone 31-32 wildcat exploration well, within the Alberta Bakken fairway and approximately 3 miles west of the Company's Milford lands, has completed coring and logging operations with encouraging results for the Bakken Shale and Lodgepole Limestone.
Wireline log evaluation over the Bakken/Lodgepole interval indicates acceptable shale thickness and reservoir quality rock. The core data from the Bakken and Lodgepole intervals has confirmed the presence of mature organic content and moveable hydrocarbons in place. Marc Miller, COO of Augusta Exploration LLC ("Augusta"), stated, "Our team has done an outstanding job executing a drilling plan in an area that historically has been tough to drill and left others disappointed and short of reaching the Bakken target. New technology played an important role along with a seasoned team of shale veterans. The end result is we have the probability to unlock new reserves in an area of the Alberta Bakken which to this time has not produced commercially viable hydrocarbons." Augusta and Super Nova are currently evaluating the most cost effective method of completing the well. The Company will report the results of this evaluation in due time.
The Company is encouraged about the potential of commercial quantities of hydrocarbons across their nearby acreage currently under lease. The Alberta Bakken fairway has found a resurgence of activity in the last few months. Pioneering companies such as Rosetta Resources (Rose), Primary Petroleum and Anschutz Exploration found hydrocarbons north of our acreage in the Alberta Bakken Fairway in multiple horizons including the Lodgepole and Bakken. Currently, Anardarko Resources (APC) is engaged in a drilling campaign to the north of the Augusta Krone 31-32 well. Augusta's founder Kory McGavin stated, "We are now in a position to begin projecting hydrocarbon deliverability across our 35,000 acre lease position. Super Nova has earned 20% of the well and two sections (T/R 18N/5W S 31 & 32) totaling 1280 acres gross, by issuing 7,000,000 of its shares and 5,000,000 warrants exercisable at $0.10 for two years. The two sections are subject to royalty burdens of 15%. There is no guarantee that commercial viable hydrocarbons are present in the Augusta Krone well until verified by completion of the well."
On behalf of the Board of Directors:
SUPER NOVA PETROLEUM CORP.
Wolf Wiese, CEO
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