/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATATION
IN THE UNITED STATES/
KELOWNA, BC, Jan. 30, 2012 /CNW/ - Trincan Capital Corp. ("Trincan") (TRN:-V) is pleased to announce that it has acquired approximately 1 ¾
Sections of land in North West Alberta in a recent Crown Land Sale.
Trincan has one hundred per cent working interest in the project.
The project involves a step out from existing Devonian light oil
production from a well that has produced over 240,000 bbls of light
oil. The first well to be drilled has been identified and the
approximate cost to drill, complete and equip a 1700 m well is
approximately $850,000. The estimated pool potential is up to seven new
wells and could receive benefit from waterflood.
Trincan is currently assessing a formal development plan for this
acreage including infrastructure, facilities, and marketing
This land acquisition is a major strategic move in the growth of Trincan
to drill and participate, as operator, in a lower risk/high-growth,
high potential, light oil potential development/exploration
Trincan is a Canadian natural resource corporation engaged in the
acquisition, exploration and development of oil and gas properties in
Western Canada. The Common Shares trade on the TSX Venture Exchange
under the symbol TRN.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority
has approved nor disapproved the information contained herein.
This news release contains forward-looking statements relating to the
future operations of the Corporation and other statements that are not
historical facts. Forward-looking statements are often identified by
terms such as "will", "may", "should", "anticipate", "expects" and
similar expressions. All statements other than statements of historical
fact, included in this release, including, without limitation,
statements regarding future plans and objectives of the Corporation,
are forward looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially
from those anticipated in such statements. Important factors that could
cause actual results to differ materially from the Corporation's
expectations are exploration risks detailed from time to time in the
filings made by the Corporation with securities regulations.
The reader is cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the control
of Trincan. As a result, we cannot guarantee that any forward-looking
statement will materialize and the reader is cautioned not to place
undue reliance on any forward-looking information. Such information,
although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ
materially from those anticipated. Forward-looking statements contained
in this news release are expressly qualified by this cautionary
statement. The forward-looking statements contained in this news
release are made as of the date of this news release, and Trincan does
not undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required
by Canadian securities law.
SOURCE TrinCan Capital Corp.
For further information:
| Burkhard Franz, President and Chief Executive Officer |
| Tel: || (250) 860-4604 |
| Fax: || (250) 712-2215 |