Curlew Lake Resources Inc. Announces Three Gas Wells Resume Production in the Turner Valley.LANGLEY, British Columbia Langley, British Columbia can mean the following:
 ), common name for large shore birds of both hemispheres, generally brown and buff in color and with decurved bills. Lake Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002)TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CWQ CWQ Center for Water Quality CWQ Call with Questions ) announces production has resumed from 3 locations in the Turner Valley Turner Valley, village (1991 pop. 1,352), SW Alta., Canada, at the foot of the Rocky Mts., on the Sheep River, SW of Calgary. It is in the center of the Turner Valley oil and natural gas fields, opened in 1914. The village has sulfur and propane and pentane gas plants. Oil and Gas project in Western Canada
Western Canada, commonly referred to as the West . These wells have been shut in since May 2004 due to lack of gas processing plant capacity. Now that plant capacity is available, a sustainable rate of production for all these wells can be established. - The 6-8 Thunder well is reported to have 180 feet of net pay on electric logs and was originally tested at a daily rate of 4.0 mmcf of natural gas and 30 bbls/mmcf of 56 API gravity condensate, which was the maximum capacity of the on site incinerator, a requirement for testing in that location. One of the partners in the well, based on in-house engineering analysis, estimates a potential production rate considerably higher. Curlew Lake holds a royalty before payout and an after payout interest of 1.6406% in the well. Based on the most recent statement provided to the company this well is at approximately 20% of Payout. - The actual production capability of the 8-21 Imperial and the 10-16 Anadarko wells has also been uncertain, due to gas plant restrictions. We anticipate increased production from these wells. The Company holds a royalty interest royalty interest The proportional ownership interest by the owner of oil and gas rights in income produced by the asset. See also overriding royalty interest. until payout and then a 1.312% to 2.188% interest. Based on the most recent statement provided to the company the 8-21 well is at approximately 35% of Payout. All three of these wells have been completed as Mississippian Turner Valley gas wells. This Mississippian structure is at a depth of approximately 10,000 feet (just over 3,000 meters). Curlew Lake, based on a recent report conducted by PWC, has varying interests (ranging from 2 to 10%) in approximately 20,000 acres in the Turner Valley. The company is confident these wells will, for the first time in company history, provide a positive net income to the company. Curlew Lake's philosophy is to evaluate and participate in lower risk Oil and Gas projects, which, combined with the long-term, high reward properties adds to the balance of the corporate portfolio. Information on this Project and others are available at www.curlew-lake.com under the operations section On behalf of the Board of Directors, Robert Pincombe, President Curlew Lake Resources Inc. (TSX VENTURE:CWQ) |
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