Stocks & Investing
Stocks and Investing
Stocks and Investing
Tue, September 15, 2009
Mon, September 14, 2009 MASS Petroleum Inc.: MASS Petroleum Explores Girouxville Oil Rich Region in Alberta
LAS VEGAS, NV--(Marketwire - September 14, 2009) - ( The Girouxville area can be characterized by consistent and stable production with significant upside developmental drilling potential. The area is located north east of Edmonton, Alberta and is readily accessible via road and rail. The region also has abundant pipeline infrastructure in place and a politically favorable area to operate in. In addition, Breaker Energy has proven the viability of the Girouxville area with their drilling success to date. Breaker Energy is a TSX listed Mid-Cap company with recent production of over 350 BOE/d in the Girouxville region and still has numerous drilling opportunities available to continue to expand their reserves and production base. Assuming Breaker Energy was to drill all of its drilling prospects at the present time they could easily add over 2000 BOE/d of daily production. The area is characterized with many opportunities to drill high quality light oil prospects with seismic data available to minimize the drilling risk. The targets are Slave Point, Granite Wash stacked targets from 2300m to 2500m, based on past drilling success in the area, which comes in at approximately a 90% success. MASS intends to capitalize on the Girouxville area as well as continue their due diligence on several additional project acquisitions located in the Western Canadian oil regions. To add to the appeal of the Girouxville area, the Alberta government is offering a $1 million royalty free holiday for newly drilled oil wells in addition to providing a drilling royalty credit for new qualifying wells of $200 per metre which can cover almost half the drilling costs. On behalf of the Board of Directors, Gary Chayko President, MASS Petroleum Inc. About MASS Petroleum Inc. MASS Petroleum is an oil and gas production company backed by an experienced and dedicated management team. MASS Petroleum is engaged in the acquisition of producing oil and natural gas wells, interests and leases from existing companies, governments, and through the open market. The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
