Trading Symbol: NRS
VANCOUVER, March 31 /CNW/ - Norwood Resources Ltd. (the "Company")
announces that it has spudded a third well on its onshore concession in
Nicaragua. The Maderas Negras No.1 is programmed to a depth of 6500 feet
approximately. Drilling is scheduled to be completed by the end of April.
The new location at Maderas Negras has been selected to exploit the same
oil-bearing reservoir facies located in the San Bartolo and Las Mesas wells.
This location was identified as a priority drill target during the seismic
re-mapping process. This work confirmed the presence of several structural
closures of significant size, the one at Madres Negras being the largest and
up dip from San Bartolo.
Upon reaching total depth and based on positive logging results, the
Company will complete and test the well for commerciality.
ON BEHALF OF THE BOARD OF DIRECTORS OF
President & CEO
WE SEEK SAFE HARBOUR
This press release contains certain forward-looking statements. While
these forward-looking statements represent our best current judgment, they are
subject to a variety of risks and uncertainties that are beyond the Company's
ability to control or predict and which could cause actual events or results
to differ materially from those anticipated in such forward-looking
statements. Accordingly, readers should not place undue reliance on
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY
OR ADEQUACY OF THIS RELEASE
For further information:
For further information: To find out more about Norwood Resources Ltd.
(NRS) contact: Raymond Cahill, President & CEO, Lee DiStefano, Chief Operating
Officer, E-Mail: email@example.com, Telephone: (604) 642-6566