WellStar Energy Corp.: Virgo-Zama Work to Begin.VANCOUVER, British Columbia -- The Board of Directors of WellStar Energy Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE: WST WST In currencies, this is the abbreviation for the Samoan Tala. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) is pleased to announce the commencement of field work on its Virgo-Zama joint venture, with a re-entry RE-ENTRY, estates. The resuming or retaking possession of land which the party lately had. 2. Ground rent deeds and leases frequently contain a clause authorizing the landlord to reenter on the non-payment of rent, or the breach of some covenant, when the program on 13-22-114-6 W6M in northwestern Alberta. The program is scheduled to start August 31, 2005. The first well in a 4 well program, the re-entry is being conducted to evaluate a Keg River Reef which has produced 249,928 BOE of light oil and gas prior to abandonment in 1989. The operator (Warburg Resources) believes that there may be unperforated un·per·fo·rat·ed adj. 1. Lacking perforations. 2. Imperforate. Used of a postage stamp. bypassed oil pay in the well. A 3-D seismic program over the reef also indicated that the 13-22 well was drilled on a flank position to the pinnacle reef, which suggests a second well would be needed to drain attic oil. The balance of 3 wells in the program are to be drilled during the winter drilling season, which commences in December, weather permitting. WellStar may earn 50% of the operators' interest in the program, net to WellStar, 50% before and 32.5% after payout in 3 prospects and 47.5% before and 30.635% after payout in the fourth prospect. On Behalf of the Board of Directors Andrew H. Rees, President, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. This News Release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release, which was prepared by management. |
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