Lions Petroleum Inc. Announces Acquisition in Williston Basin.DENVER -- Lions Petroleum Inc. (the "Company") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :LPET LPET Logarithmic Poisson Execution Time ) announces it has leased 1,119 acres located in Southern Saskatchewan, in the Williston Basin. The Williston Basin is a large sedimentary basin The term sedimentary basin is used to refer to any geographical feature exhibiting subsidence and consequent infilling by sedimentation. As the sediments are buried, they are subjected to increasing pressure and begin the process of lithification. situated along the edge of the Rocky Mountains Rocky Mountains, major mountain system of W North America and easternmost belt of the North American cordillera, extending more than 3,000 mi (4,800 km) from central N.Mex. to NW Alaska; Mt. Elbert (14,431 ft/4,399 m) in Colorado is the highest peak. in Western North Dakota North Dakota, state in the N central United States. It is bordered by Minnesota, across the Red River of the North (E), South Dakota (S), Montana (W), and the Canadian provinces of Saskatchewan and Manitoba (N). , Eastern Montana The Great Plains stretch across Eastern Montana, an area that consists of the eastern half of the U.S. state of Montana and the north-central portion near Great Falls. The area is drained by the Missouri River, which originates in SW Montana, and by its tributaries, the Milk, the , and South Saskatchewan. The basin is characterized by thick sequences of sediments that underlie an area of over 285,000 sq. kilometers (110,000 sq. miles). Light to medium crude oil is produced in this area and natural gas, which is dry (low in liquid hydrocarbons) and sweet, (low in sulfur) which requires limited processing. The acreage leased is for a period of 5 years and carries with it the P&NG rights and drilling rights to surface and basement. The Company plans to carry out 2-D and 3-D seismic on the property to delineate primary oil and gas drill targets. Primary gas targets will include the Milk River formation at 500 - 1000 feet; 1st and 2nd White Peckled Shale at 1500 - 2500 feet; the Viking Sands at 3000 - 5000 feet. Primary oil targets will include the Mission Canyon & McGowan formations at 5000 - 8000 feet; the Devonian Age Baaken & Nisku formations at 7000 - 9000 feet. ABOUT LIONS PETROLEUM INC. Lions Petroleum Inc. is a Delaware corporation that has oil and gas leases in Northern Alberta and the Williston Basin in South Saskatchewan. The Company has also signed an agreement to participate in a Texas gas project. The Company is currently seeking additional projects throughout North America. 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. The information provided in this Press Release does not constitute an offer or a solicitation of an offer for the purchase or sale of any shares or other securities of Lions Petroleum Inc. There are substantial risks associated with investing in development stage energy exploration companies. No Securities Commission or similar authority has in any way approved any of the information contained in this press release. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion