Winnipeg, Manitoba (FSCwire) - Bird River Resources Inc. (CSE: BDR) (the “Company”)
announced today that its Calgary-based subsidiary High Point Oil Inc. (“High Point”) has successfully drilled its first well. The
Huxley 4-5 well currently stands cased and will be completed for production in the coming days.
The drilling rig has now been moved to the Company's next site and is currently drilling the Huxley 11-36 location. Additional
drilling and completion updates will be released as information becomes available.
The two wells are drilled pursuant to the recently announced Strategic Alliance with DEL Canada Partnership ("DEL"), a
private, Calgary-based oil and gas company (the "Agreement"). Under the terms of the Agreement for the first well (Huxley
4-5), DEL will pay 50% of all associated capital costs through to equipping to earn a 40% working interest. Under the terms
of the Agreement for the second well (Huxley 11-36), DEL will pay 50% of all associated capital costs through to equipping to
earn a 50% working interest. The Agreement is elective on a well-by-well basis.
“We are most pleased to have spudded our first well,” stated Ty Pfeifer, CEO of High Point Oil, “and look forward to sharing
results as they become available.”
About Bird River Resources Inc.
Established in 1958, Bird River Resources Inc. is a Canadian natural resources company focused on three verticals within the
energy sector – Oil & Gas, Cogeneration and Technology. The Oil & Gas vertical was recently expanded through the acquisition of
High Point Oil and focuses on the acquisition, exploration and development of petroleum and natural gas in the Western Canadian
Basin. The Cogeneration vertical is a joint venture with Divestco Inc. focused on the conversion of natural gas to electricity at
projected low rates. The Technology vertical focuses on the application of technologies such as blockchain to identified
opportunities within the energy and technology sectors, including the establishment of a leading, ultra low-cost cryptocurrency
mining centre through a partnership with Divestco. For more information, visit birdriverresources.com and highpointoil.net.
For further information, contact:
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Source: Bird River Resources Inc. (CSE:BDR)
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