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Tuesday, September 02, 2014 10:08:12 AM
$STBR +7.14% great morning so far.. previous news ~ Strongbow Set to Prepare Development Plan for Compeer Asset ~
http://finance.yahoo.com/news/strongbow-set-prepare-development-plan-035624640.html
VANCOUVER, British Columbia, July 23, 2014 (GLOBE NEWSWIRE) -- Strongbow Resources Inc. (STBR) ("Strongbow" or the "Company") is pleased to announce that it has commenced with preparing a development plan to drill its Compeer Asset. The Compeer Asset consists of eight sections (5120 acres), in which Strongbow owns a 100% working interest, and is located in East Central Alberta. Strongbow currently has one well in production, producing light oil from the Viking Formation, which is one of the most prolific oil and gas bearing reservoirs in Western Canada.
Stongbows management spent a great deal of time restructuring its company to best-fit future exploration and development projects. "Now that we have a well-rounded and seasoned team, we can now proceed with building our company by selecting the appropriate opportunities to enhance our shareholders value while minimizing the risk factors. We have noticed an increase of positive activity coming from other companies within a 2 to 5 mile radius, which makes us comfortable enough to pursue a development plan to drill the Compeer," stated Michael Caetano, President & CEO.
Strongbow's development plan will include a drilling program of up to 31 or more horizontal wells (average 4 per section) with a start of about 5 targets in various areas to determine the recoverable oil in place. The Company anticipates having its plan ready to go in two weeks time so it can commence next steps.
http://finance.yahoo.com/news/strongbow-set-prepare-development-plan-035624640.html
VANCOUVER, British Columbia, July 23, 2014 (GLOBE NEWSWIRE) -- Strongbow Resources Inc. (STBR) ("Strongbow" or the "Company") is pleased to announce that it has commenced with preparing a development plan to drill its Compeer Asset. The Compeer Asset consists of eight sections (5120 acres), in which Strongbow owns a 100% working interest, and is located in East Central Alberta. Strongbow currently has one well in production, producing light oil from the Viking Formation, which is one of the most prolific oil and gas bearing reservoirs in Western Canada.
Stongbows management spent a great deal of time restructuring its company to best-fit future exploration and development projects. "Now that we have a well-rounded and seasoned team, we can now proceed with building our company by selecting the appropriate opportunities to enhance our shareholders value while minimizing the risk factors. We have noticed an increase of positive activity coming from other companies within a 2 to 5 mile radius, which makes us comfortable enough to pursue a development plan to drill the Compeer," stated Michael Caetano, President & CEO.
Strongbow's development plan will include a drilling program of up to 31 or more horizontal wells (average 4 per section) with a start of about 5 targets in various areas to determine the recoverable oil in place. The Company anticipates having its plan ready to go in two weeks time so it can commence next steps.
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