Uranium Power Corporation: Progress Report Athabasca Oil Prospect Fort Mcmurray Alberta Three Potential Pay Zones Identified
CALGARY, Alberta, Canada--(BUSINESS WIRE)--Jan. 9, 2003-- Core Sampling And Logging Completed
Uranium Power Corporation (OTCBB:URMP)(DAX:URP) The Company is pleased to report that Schlumberger has completed a suite of logs on the AOC 7-32 well from 1,600 to 2,336 meters (an interval of 2414 feet) which includes compensated neutron, liphodensity, natural gamma ray spectrometry, micro imaging and high resolution lateral logs. Schlumberger will have completed the processing of the log data, which will include a FMI log by late today.
Nabors Drilling have completed the coring program and have cut 12.9 meters (42.3 feet) of core which is being sent for analysis. Bill Ghazar, the well site geologist, reports high gravity oil shows as well as up to 50 percent sand content in the core. Ross Crane, P.Eng of Spectrum 2000, consultant to the company will analyze all the data to date including data from Schlumberger. Mr. Crane has revealed that upon his preliminary review there appears to be at least two intervals evidencing porosity.
Warren Hunt, consulting geologist comments, "Drilling has revealed high gravity oil showings over the 700 meter (2300 foot) drilled interval, numerous fracture systems and abundant angular quartz sand. Drill stem testing of the intervals of interest will commence tomorrow."
The Company shall continue to release further information on receipt of the same.
CONTACT: Uranium Power Corporation
Steve McGuire, 800/877-1626
investor@apioil.net
www.apioil.net
or
Uranium Power Corporation
Randal Pow, 888/858-7759
investor@apioil.net
www.apioil.net |
