Cardiff Energy Corp. Announces Entry into Mississippi Lime Play, Osage County, Oklahoma
2013年8月6日 - 11:43PM
Access Wire
CARDIFF ENERGY CORP. (the
"Company") (TSX-V: "CRS") is extremely
pleased
to announce that they have signed a Letter of Intent
with Superior Oil and Gas LLC of Oklahoma which will grant Cardiff
an exclusive 3 year option on 1000 acres in Osage County, Oklahoma.
These lands are within the proven limits of the emerging
Mississippi Lime play of south Kansas and northern Oklahoma. Upon
confirming title and conducting a technical review to determine the
feasibility of drilling a horizontal well on one of the three
leases, Cardiff will make an election to proceed or consider
alternative strategies.
PROJECT
OVERVIEW:
Osage County:
MISSISSIPPI LIME PLAY
The Mississippi Lime
Play has been gaining momentum in south Kansas and northern
Oklahoma over the past three years. Some published reports have
suggested that this play may have a higher rate of return than the
Eagle Ford and all other oil shale plays in the United States. Some
initial completion rates have been reported in excess of 1000
barrels of oil equivalent per day. Due to its shallow depth, low
reservoir pressure and higher natural porosity, this is a
relatively low-tech and cost-effective reservoir in which to drill
and complete horizontal wells. As an added benefit, the
infrastructure to dispose of water and get oil and/or gas to market
is readily available on this lease.
Within the past year,
a horizontal well has been drilled and
completed immediately offsetting these lands which has reported an
initial production rate of 700 barrels of oil per day. This well,
along with the momentum of the Mississippi Lime play in general,
has prompted Cardiff's initiative to become involved in this
emerging and expanding regional play.
OTHER NEWS: Cardiff's
50% partner on the Buzzard Sand project,
Tamarisk Energy Corp, has quitclaimed their interest to Cardiff to
pursue other business.
About the
Company
Cardiff is an
emerging junior oil and gas company engaged in the acquisition,
exploration, development, and production of oil and gas properties.
Cardiff is listed on the TSX Venture Exchange under the symbol CRS.
For additional details please visit Cardiff's website at
www.cardiffenergy.com.
For additional information
contact:
Greg Campbell,
Secretary
Cardiff Energy Corp
604-505-4380
greg@cardiffenergy.com
ON BEHALF OF THE BOARD OF
DIRECTORS
"Lorne
Torhjelm"
Lorne Torhjelm,
President and Chief Executive
Officer
Neither TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release contains forward-looking
statements relating to the future operations of the Company.
Forward-looking statements are often identified by terms such as
"will", "may", "should", "anticipate", "expects" and similar
expressions. All statements other than statements of historical
fact, included in this release, including, without limitation,
statements regarding future plans and objectives of the Company,
are forward looking statements that involve risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are exploration risks
detailed from time to time in the filings made by the Company with
securities regulations.
The reader is cautioned that assumptions used in the preparation of
any forward-looking information may prove to be incorrect. Events
or circumstances may cause actual results to differ materially from
those predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the
control of the Company. As a result, we cannot guarantee that any
forward-looking statement will materialize and the reader is
cautioned not to place undue reliance on any forward-looking
information. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release, and the Company does not
undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable securities laws.
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