Stocks & Investing
Stocks and Investing
Stocks and Investing
Thu, November 12, 2009
Wed, November 11, 2009 MASS Petroleum Completes Due Diligence on Producing Girouxville Oil Project
LAS VEGAS, NV--(Marketwire - November 11, 2009) - ( MASS Petroleum is pleased to announce it has completed its due diligence efforts on the Girouxville project. A summary of the due diligence findings is provided below; Guardian Exploration Inc. ("Guardian," "the Company") owns various working interests in three producing oil wells in the Girouxville area of northwestern Alberta. The interests range from 50-55% in the three wells. All of the wells are operated by Breaker Energy Ltd. ("Breaker") on behalf of Guardian. Guardian's interest is processed at the Breaker operated 12-28-76-22W5M central battery. The three wells were operated by Breaker during the drilling, completion and equipping phases and are currently operated by Breaker on a month by month production arrangement. Guardian earned a 50% working interest in the first test well and a 55% working interest in the subsequent two wells based on the farm in agreement. All three of the wells also earned Guardian the same interests in the 160-acre Crown mineral interests associated with each well. The locations and earnings for the three wells are as follows: Lands earned by the drilling of the two Test Wells and the first Option Well are as follows: 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. Location Spud Date Prod. Date Status Earning 3-21-76-22W5M 05/12/2007 25/01/2008 Oil Producer Below Debolt to Base Granite Wash - 55% 2-29-74-21W5M 22/02/2008 15/04/2008 Oil Producer To Base Granite Wash -55% 7-3-76-22W5M 15/06/2008 09/07/2008 Oil Producer To Base Granite Wash - 55%
Well Land Lease Terms Land Status 3-21-76-22W5M SW/21-76-22W5M All PNG Surface TB Granite Primary Term Wash 2-29-74-21W5M SE/29-74-21W5M All PNG Base Gilwood TB Primary Term Granite HBP Wash All PNG Surface TB Gilwood Expired 7-3-76-22W5M SE/3-76-22W5M All PNG Surface TB Granite Primary Term Wash On behalf of the Board of Directors, Gary Chayko President, MASS Petroleum Inc.
