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Gold/Mining/Energy : Grey Wolf GWX - was Cascade COL - ASE
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To: David Carlson who wrote (38)1/6/1999 10:13:00 AM
From: Enigma  Read Replies (1) of 80
 
Press Release

Grey Wolf Announces Drilling Operations

January 4, 1999 -- Grey Wolf Exploration Inc. announces that drilling operations at the Deh Cho B-25 well on Grey Wolf's Ten Mile Island prospect in the Norman Wells area of the Northwest Territories, Canada have been completed. The well was drilled to a total depth of 785 metres and was plugged and abandoned as a dry hole. The Company is currently preparing to drill the second seismically identified prospect, the Deh Cho B-14.

Drilling operations were also completed at the Chinchaga 15-36 well on the Slave Point Reef play in the Cranberry area of northwestern Alberta. The well was drilled to a total depth of 2,450 metres and was plugged and abandoned as a dry hole. The Company is currently preparing to drill the Chinchaga 10-27.

Grey Wolf operates these prospects and owns 20% with its affiliate, Canadian Abraxas Petroleum Limited, owning the remaining 80%.

Company officials indicated that both of the initial locations were stand-alone prospects and that the results would not impact the success of the ensuing exploratory tests.

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For More Information Contact:

Grey Wolf Exploration Inc.
1200, 300 - 5th Avenue S.W.
Tel: (403) 262-1949
FAX: (403) 262-1969
Internet: info@greywolf.ca

 

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