| | | Marksmen Energy (MAH-V) June 9, '14 and its joint venture partner, Houghton Investments LLC, has completed the third well of its drilling program on June 6, 2014. The well was drilled to total depth on May 28, 2014. The completion process included setting of production casing, perforating in the targeted Cambrian Knox formation, and acidizing of the well. During the completion process the well flowed oil to surface. The well will be tied-in and put on production in the next few days. Marksmen has a 100% working interest before payout and a 90% working interest after payout in this well. Marksmen will commence drilling operations on its fourth well today and it should take approximately two weeks to drill, complete and tie-in. Completion work including perforating and acidizing on the second well drilled to total depth in the targeted Cambrian Knox formation in late May will be completed early this week.
The Company has applied for drilling permits on an additional seven well locations. A drilling schedule has yet to be determined. Further information will be released as it becomes available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company's drilling plans and operations. Oil and gas shows and oil circulated to surface are not an indication that the Company's Ohio properties contain any reserves or resources or that there will be commercially viable production from those properties. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen's disclosure documents on the SEDAR website at www.sedar.com. Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws. |
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