Softrock Minerals (SFT-V) talks up Charlie Lake interests
www.softrockminerals.com
July 9, 2013 - News Release
In Tourmaline Oil (TOU-T) news release of July 5, 2013, it stated that its company's third core area is the Spirit River Charlie Lake oil and gas pool; Softrock Minerals Ltd. holds a 50-per-cent working interest subject to its share of a 3-per-cent gross overriding royalty in an Alberta Crown petroleum and natural gas lease (all of Section 11, Township 78, Range 7, west of the sixth meridian) covering all rights from surface to the base of the Charlie Lake formation in the same area. With extensions, the lease will not expire until June 11, 2015. Softrock states that there are now two producing Charlie Lake wells within one mile of its lease, with initial production rates of 650 and 474 barrels of oil per day, and notes with interest that Tourmaline says reserves vary from 300 to 350,000 barrels of oil equivalent per horizontal location.
In today's progress report, Softrock states it is evaluating proposals from the industry involving cash plus royalty plus working interest for drilling and completing the first horizontal well in the next few months. |
