Canrise Resources Ltd. announces interim fall drilling results.CALGARY, ALBERTA--(BUSINESS WIRE)--Nov. 7, 1995--CANRISE RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CRE CRE Commercial Real Estate CRE Corporate Real Estate CRE Commission for Racial Equality (Scotland) CRE CCD (Charge Coupled Device) and Readout Electronics CRE Camp Response Element ) as a result of public inquiries, Canrise Resources Ltd. today announced the interim results of its fall drilling program. The program consists of seven well locations within west-central Alberta. Drilling commenced with two 100 percent working interest gas tests in early October. Both were cased as potentially commercial gas wells. The McLeod well has been completed and should be capable of initially producing 5 million cubic feet of natural gas per day and 100 barrels of natural gas liquids per day. However, deliverability is being confirmed by extensive testing which will be concluded at the end of November. The Heldar well is currently being completed and results will also become available at the end of the month. Subject to these tests and weather, both wells are expected to commence production in January. In addition, Canrise spudded a 62.5 percent working interest Niton gas test on November 5, and will spud another 100 percent working interest Whitecourt gas test today. Also, recompletion operations are underway on a previously completed McLeod wellbore in which Canrise acquired working interests varying from 75 percent to 100 percent. Subject to weather, this well will also commence production in January and should be capable of producing a gross 2 million cubic feet of natural gas per day and 20 barrels of condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. per day. In early December the company will participate for a 57 percent Unit working interest in two operated Carrot Creek oil tests, and for a 14 percent Unit working interest in a non-operated horizontal Carrot Creek oil test. All seven locations and the one recompletion are in fields that have ready access to market, and the majority of the gas production will be dedicated to major aggregators. Canrise's current sales production is approximately 8 million cubic feet of natural gas per day and 250 barrels of oil/LPG per day. Second quarter production averaged 5.2 million cubic feet of natural gas per day and 133 barrels of oil/LPG per day. Third quarter financial and operating results are being finalized and will be released before the end of the month. Canrise is an Alberta based corporation engaged in the exploration, development and acquisition of oil and gas properties in Western Canada
Western Canada, commonly referred to as the West . Canrise is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the trading symbol Trading symbol See: Ticker symbol CRE. CONTACT: Peter J. Kurceba President and Chief Executive Officer 403/232-9222 403/262-4518 (Fax) or David M. Fisher, C.A. Chief Financial Officer 403/232-9225 403/262-4518 (Fax) The Toronto Stock Exchange has neither approved or disapproved the information contained herein. REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-236-4266 or |
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