West Hawk Development Corp.: WEIR International to Perform Reserve Study on Oklahoma-Arkansas Coal and Coalbed Methane Project
Wed May 28, 1:35 PM
ca.news.finance.yahoo.com
DENVER, COLORADO--(Marketwire - May 28, 2008) - West Hawk Development Corp. (TSX VENTURE: WHD.V)(FRANKFURT:H5N) (the "Company") is pleased to announce that WEIR International, Inc. ("WEIR") has been retained to perform an independent reserve study for the coal and natural gas acquisition located in Oklahoma and Arkansas. The reserve study is part of the due diligence process for the business venture, and will be compliant with Canadian National Instrument and U.S. Securities and Exchange standards. The reserve study is expected to be completed in approximately 45 to 60 days.
WEIR is a premier energy and mineral engineering consulting company with recognized worldwide experience.
Other due diligence activities on the project that are currently underway include a legal review of land title and permits, engineering analysis on rock mechanics, ventilation, mine design, coal handling, coal de-gasification, and power system analysis, as well as marketing and commercial issues.
On behalf of the board of directors,
Dr. Wm. Mark Hart, President and Chief Executive Officer
About the Company: West Hawk Development Corp. is focused on providing valuable, high-demand clean energy products from a variety of sources. Assets include the Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement; the Groundhog coal property located in northwest British Columbia; the Tulita coal property in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal property.
Cautionary Note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures, coal quality and investment plans; being historic in nature, cannot be verified by the Company, do not comply with modern reporting standards (NI 43-101), and therefore should not be relied upon. Resource estimates, unless specially noted, are considered speculative. The Company has filed a National Instrument 51-101 Report on the Figure Four property. The Company has filed National Instrument 43-101 Reports for each of the Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog Coal property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contacts
Dr. Wm. Mark Hart
West Hawk Development Corp.
President and Chief Executive Officer
(303) 524-1424
(303) 524-1285 (FAX)
Website: www.westhawkdevelopment.com |
