Lotta Energy Submits Final Application for Two Drilling Locations on Swan River Lands
Lotta Energy (PINKSHEETS: LCOL) (FRANKFURT: LC5) today announced that it has submitted final applications for approval of two drilling locations (gas) on the Swan River Reserve.
"Approval is expected within 7 days, and drilling is anticipated to commence within 7 days of approval," said Dr. Nicolas Matossian, President and CEO of Lotta Energy. "This initial drilling will signify the beginning of a 20-30 well program on these lands. With the results of these wells and a 3D seismic program currently planned for Q2 2008, we will be able to fine tune our exploration and development plan for the next 24 months activity," he added.
About Lotta Energy Inc.
Lotta Energy Inc. is a unique oil and gas company with three separate wholly owned operating subsidiaries, each with rights to explore and develop oil and gas resources in partnership with different First Nations commercial entities in Northern Alberta, Canada. The Company is publicly traded on the over-the-counter market under the Ticker symbol LCOL, and in Frankfurt LC5.
Shares Outstanding: 228,000,000
Shares Authorized: 400,000,000
Approx. Public Float: 22,000,000
