Stellar announces Elk Hills Heavy Oil LLC has started drilling its first test well in Carbon County, Montana
Sep. 23, 2010 (PR Newswire) --
OTCBB: SRRL
HENDERSON, NV, Sept. 23 /PRNewswire-FirstCall/ - Stellar Resources Ltd.,(OTCBB: SRRL), (the "Company") today announced that Elk Hills Heavy Oil LLC, (EHHO) has spudded its first test well on its 22,000 acre heavy oil prospect in Carbon County, Montana. The objective is drill approximately 500 meters to the core point, then core the Ten Sleep formation to evaluate the potential for a commercial oil reservoir. EHHO is owned 50% by the Company and 50% by Elk Hills Petroleum Canada Ltd.
FORWARD LOOKING STATEMENT
This press release contains statements, which may constitute 'forward-looking statements' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
On behalf of the Board
Stellar Resources Ltd.
"Ray Jefferd"
Ray Jefferd
President & CEO
SOURCE Stellar Resources Ltd.
Ray Jefferd, President & CEO, (702) 547-4614
Source: PR Newswire (September 23, 2010 - 9:30 AM EDT)
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