Uranium Power Corporation: Deep Drilling Program Test Phase to Begin On the 7-32 Well Athabasca Oil Prospect, Fort McMurray Alberta
CALGARY, Alberta--(BUSINESS WIRE)--Jan. 6, 2003--Uranium Power Corporation (OTCBB:URMP)(DAX:URP) The Company is pleased to report that as of 8:00 a.m. Mountain Standard Time today the 7-32 well has reached a depth of 2347 meters (7700 feet).
Initially, a four-inch core sample, which may be 18 meters long, is being cut prior to logging the well from 1651 meters (5417 feet) to the bottom of the hole. Included in the logging will be sonic, neutron density, and velocity logs to identify fracture zones with porosity and/or oil and gas. Based on log results, several prospective zones which have previously recorded oil and/or gas shows will be tested. The coring/logging/testing program is expected to take 3 or 4 days to complete. Warren Hunt, consulting Geologist comments, "The testing program may be very positive as similar producing fields from fractured reservoirs were only discovered after logging and testing."
The Company shall continue to release further information on receipt of the same.
CONTACT:
Uranium Power Corporation
Steve McGuire, 800/877-1626
Randal Pow, 888/858-7759
investor@apioil.net
www.apioil.net
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