CanWest Petroleum Corporation: Sylvan Lake Drilling Progress Report.CALGARY, Alberta -- CanWest Petroleum Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CWPC CWPC Contingency Wartime Planning Course CWPC Certified Wellness Program Coordinator ) Ensign Drilling has resumed drilling at the 6-3-38-3 W5M well located on the Sylvan Lake Sylvan Lake can refer to: Communities:
emanating from or pertaining to woods. See also sylvatic. Field has produced 40 million barrels oil from the Pekisko formation and 50 billion cubic feet gas from the Shunda formation. The hole is planned to reach a total depth of 7,470 feet. A total of 30 feet in the Shunda gas formations at 7,155 feet and 30-feet of Pekisko oil formation at 7,320 feet may then be tested. The drilling and testing is expected to take approximately 10 days. CanWest Petroleum has a 25% working interest in the Sylvan Lake project that has the potential for four oil wells and one gas well. Each well has the potential to produce approximately 150 barrels oil per day from the Pekisko formation with potential reserves of 250,000 barrels oil. In addition, the Shunda gas formation which is a secondary target, has the potential for approximately 1,000,000 cubic feet gas per day with potential reserves of three billion cubic feet gas. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission. Cusip# 138748 10 8 |
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