Sandstorm Metals and Energy Ltd (fka STTYF)

[Tommy]

$STTYF - Sandstorm Metals & Energy Provides Gordon Creek Update

http://www.sandstormmetalsandenergy.com/news/release/index.php?&content_id=231

... Sandstorm Metals & Energy Ltd. (“Sandstorm” or the “Company”) (TSX-V: SND) is pleased to announce that Thunderbird Energy Corp. (“Thunderbird”) (TSX-V: TBD) has substantially completed the infrastructure build-out at the Gordon Creek property located in Utah, USA. The well sites are prepared and equipped and the process of bringing the first 8 wells online has begun through Thunderbird’s upgraded compression facility. Although issues with certain suppliers have caused minor delays in recent weeks, Thunderbird and Sandstorm are encouraged by the progress of the operations and anticipate providing a further update in December once all of the wells are online and initial production rates have begun to stabilize.

Thunderbird has also acquired four sections of new mineral leases in the Gordon Creek area representing a 20% increase in the Gordon Creek land position. This new acreage adds up to 18 new locations and brings the undrilled location inventory to approximately 85 (based on a 4 well per section density). Of the 85 locations, 47 are surveyed and in the advanced stages of surface acquisitions, permitting and licensing.

Sandstorm has a natural gas stream agreement with Thunderbird to purchase 35% of all natural gas produced from the first 50 wells drilled at Gordon Creek with an option to participate in additional wells. Sandstorm will purchase the natural gas at US$1.00 per Mcf of gas delivered plus 20% of the market price received above US$4.00 per Mcf." ...