WOLVERINE ENERGY (WVE.A) - Recommended in Buy Low, Sell Hi Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : WOLVERINE ENERGY (WVE.A) - Recommended in Buy Low, Sell Hi

WVE 8.590

-5.0%

10:16 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Michael M. Cubrilo who wrote ()	4/17/1997 3:02:00 PM
From: terry	of 37

To all: Here is Wolverine's press release from this morning (April 17, 1996) WOLVERINE ENERGY CASHES IN ON WEST GHOST RIVER Calgary - Wolverine Energy Corp. (WVE-ASE) annouced today that it has successfully completed and tested its Salter 2-32-26-8 W5M well located in the West Ghost River project area. The well, which is the first well to test the structure, flowed at rates up to 10 MMscfd (million cubic feet) during the initial testing. Completion and testing operations were conducted to evaluate the Turner Valley and Mount Head formations. Wolverine Energy owns a 100% working interest in the 2-32 well and the 8 sections of land covering the entire reservoir structure. The company said the West Ghost River structure has reserve potential of up to 50 Bcf (billion cubic feet) based upon an independent engineering evaluation. The West Ghost River structure is very similar in size to the existing Ghost River Unit located three miles to the east of which Wolverine owns an 11% working interest. The Ghost River Unit has produced 30 Bcf and has remaining reserves in excess of 15 Bcf. Wolverine Energy now plans to continue with the development of the West Ghost River field and is planning to drill a horizontal leg up to 1200 meters in length from the existing 2-32 wellbore. This horizontal section will allow Wolverine to access the more porous areas of the reservoir located to the south of the 2-32 well, and develop the reserves in the north end of the stucture. Additional drilling will be required to develop the south end of the reservoir and is currently being evaluated. The horizontal drilling is expected to take place this summer with the well expected to come on production later this year. Contact: V. Wayne Dowhaniuk, President & CEO (403) 264-5727

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next