FIELD ACTIVITIES / Western Logic Resources, Inc. Announces the
Signing of an Interim Agreement to Participate in West Queensdale,
Saskatchewan Drilling Program
VSE SYMBOL: WLT
JUNE 10, 1998
CALGARY, ALBERTA--Western Logic Resources, Inc. (VSE-WLT)
announces that it has completed a geophysical review of the West
Queensdale area and has signed an interim letter of agreement,
subject to a formal farmout and participation agreement to
participate with Texalta Petroleum Ltd. (ASE-TEX.A) and partners
in a two well drilling program in the West Queensdale area of
Saskatchewan. Western Logic Resources, Inc. shall participate to
a 40 percent BPO interest in drilling a horizontal well in
3-25-6-2 W2M to earn a 24 percent APO in the spacing unit. This
well, to be spudded on or about September 1, 1998 will be drilled
to the Mississippian Alida zone at a depth of 1200 metres.
Texalta Petroleum Ltd. has just completed a successful Alida zone
horizontal well in 14-25-6-2 W2M which has production tested up to
175 barrels of oil per day. Upon completion of the horizontal
well, Western Logic shall participate to a 40 percent BPO interest
in the drilling of a 2600 metre deep test to be spudded on or
about October 1, 1998. This well to be drilled to the Ordivician
Red River Formation shall earn Western Logic Resources, Inc. a 20
percent APO interest in all zones below the Mississippian Alida
Formation in the W1/2 25-6-2 W2M and the E 1/2 26-6-2 W2M a total
of 640 acres. In addition, Western Logic Resources, Inc. shall
earn a 20 percent APO interest in the DSU Lsd 5-25-6-2 W2M in the
Mississippian Alida Formation. |
