Ryland Oil Announces New Farm-Out Agreement With Crescent Point Energy Corp.
2010年4月6日 - 9:00PM
Marketwired
Ryland Oil Corporation (TSX VENTURE: RYD) announces that its wholly
owned subsidiary Pebble Petroleum Inc. ("Pebble") has entered into
a new farm-out agreement with Crescent Point Energy Corp.
("Crescent Point"). Under the agreement, Crescent Point has agreed
to spud a test well by June 30, 2010, subject to rig availability,
surface access and regulatory approval, at a location of its choice
on a three-section lease in the Flat Lake area of southeast
Saskatchewan acquired by Pebble in November of 2009. The test well,
which has been licensed, will be a horizontal well which will test
the Bakken formation. Crescent Point must pay 100% of the costs to
drill, complete and equip or abandon the test well to earn a 50%
working interest in the three sections comprising the lease as well
an additional 11 net sections of Ryland leasehold acreage. If any
wells are subsequently drilled on acreage in which Crescent Point
has earned its 50% working interest, each of Pebble and Crescent
Point will be responsible for payment of 50% of the costs of such
wells and hold a 50% working interest, subject to the provisions of
the operating agreement between the parties. Crescent Point will be
the operator of the test well and the initial operator of all
post-earning wells.
This is the fourth farm-out agreement between the Company and
Crescent Point, the first three having been entered by Pebble with
TriAxon Resources prior to TriAxon's acquisition by Crescent Point.
Under the other agreements, Crescent Point has the right to earn a
50% working interest in and to a total of approximately 81 sections
of Pebble acreage in the Flat Lake area by drilling a total of 8
wells. The earn-in under those agreements is limited to the Bakken
formation only. Drilling is ongoing.
RYLAND OIL CORPORATION
Gerald J. Shields, President
Issued and Outstanding: 198,327,535
The TSX Venture Exchange has not reviewed and does not accept
any responsibility for the adequacy or accuracy of this news
release, and no regulatory authority has approved or disapproved
the information contained herein.
Contacts: Ryland Oil Corporation Mr. Jim Welykochy
Vice-President Corporate Development 403.861.1242
www.rylandoil.com
Ryland Oil Corp (TSXV:RYD)
過去 株価チャート
から 5 2024 まで 6 2024
Ryland Oil Corp (TSXV:RYD)
過去 株価チャート
から 6 2023 まで 6 2024
Real-Time news about Ryland Oil Corp (トロントベンチャー取引所): 0 recent articles
その他のRyland Oil Corporationニュース記事