Petromin Resources Ltd. - Frog Lake and Morningside updates
VANCOUVER, March 4, 2013 /CNW/ -
Dr. Ross Gorrell reports,
Petromin Resources Ltd. (PTR.V) is pleased to announce that it has commenced work over
operations at its Frog Lake 7A and 7B wells in which the Company has
100% and 45% working interests (WI) respectively and anticipates
production to resume shortly.
The Company is also reviewing farm out options to drill its' forth well location at Frog Lake.
Petromin has also completed the economic study requested by the Energy Resources and Conservation Board (ERCB) of the excess gas that was being flared during the production testing of its Morningside oil well.
Petromin now has approval to resume production testing by committing to tie into the pipeline the excess gas that was being flared and the Company has thus begun proceedings to tie into the existing low pressure pipeline that exists on the surface lease.
Production testing of the Morningside oil well is expected to resume shortly.
The Company retains a gross overriding royalty before payout convertible to a 25% WI after payout and retains a 50% WI in the undrilled acreage.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Petromin Resources Ltd.For further information:
PETROMIN RESOURCES LTD.
1120-1090 W. Pender Street
Vancouver, B.C. V6E 2N7
Telephone: (604) 682-8831
Fax: (604) 682-8683