Stocks & Investing
Stocks and Investing
Stocks and Investing
Tue, January 10, 2012 TVI Pacific Inc. Withdraws From Niger Exploration Program
January 10, 2012 07:00 ET
TVI Pacific Inc. Withdraws From Niger Exploration Program
CALGARY, ALBERTA--(Marketwire - Jan. 10, 2012) - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) (TVI or the Company) has made the decision to not participate in the second exploration phase of the Ténéré Block in Niger, Africa, with partner China National Petroleum Corporation International Ténéré (CNPCIT). After analyzing the final well data and reports from the Facai-1 exploration well drilled in August 2011, TVI has withdrawn entirely from the contract area.
On August 30, 2011, TVI announced that it had plugged and abandoned the third and final exploration well of a three well carried program in the Ténéré Block. The Facai-1 exploration well, drilled by operator CNPCIT, had encountered two small gas shows during drilling, but wireline logs indicated there were no zones worth testing.
About TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF)
TVI Pacific Inc. is a publicly-traded Canadian company that is focused on the production, development, exploration and acquisition of resource projects in the Philippines. TVI produces copper and zinc concentrates from its Canatuan mine, is pre-developing its Balabag gold and silver project, and is carrying out exploration programs on its other North Zamboanga tenements. TVI also has an interest in an offshore Philippine oil property.
Connect with us [ www.tvipacific.com ]
Follow us on Twitter [ www.twitter.com/tvipacific ]
"Like" us at [ www.facebook.com/tvipacific ]
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
