FIELD ACTIVITIES / Tappit Resources To Drill Red River Well
TAPPIT RESOURCES LTD.
ASE SYMBOL: TPT
JANUARY 6, 1998
Tappit to Spud Red River Test Well
REGINA, SASKATCHEWAN--Tappit Resources announces that the surface
lease is being prepared for a well to test the Red River Formation
near Kisbey, Southeast Saskatchewan. The 2560 metre deep well is
expected to spud Thursday, January 8. Tappit has a 40 percent
working interest in the well.
Tappit also announces that 2,388,864 warrants (expiry date
December 15, 1997) were exercised providing proceeds of $716,659
to Treasury. At today's date there are 27,758,577 shares
outstanding. Tappit currently has working capital of
approximately $1,500,000. |
