Trading Symbol: NRS
VANCOUVER, Oct. 23 /CNW/ - Norwood announces that drilling of the San Bartolo 1-X (SB-1X) sidetrack well has commenced on the INDOKLANICSA concession in Nicaragua. The purpose of the sidetrack is to test certain hydrocarbon bearing reservoir zones, which were identified during the drilling of the original San Bartolo 1 well in 2007.
The sidetrack well will exit the San Bartolo-1 well bore at 5560' and drill approximately 1440' at a northeasterly azimuth to a measured depth of 7000' achieving an inclination of about 20 degrees and a distance of approximately 200' from the original wellbore. Petrophysical analysis from the San Bartolo-1 well suggests the sidetrack will transect 143 feet of oil-bearing reservoir target zones.
The well will be drilled underbalanced to permit fluid inflow as the reservoir targets are penetrated. A highly inhibited polymer drilling fluid will be used to minimize damage to reservoir mineralogy. An open-hole testing program is planned with a gas lift system to produce any moveable hydrocarbons encountered in the drilling and completion phases.
The Company will report results as soon as they become available.
ON BEHALF OF THE BOARD OF DIRECTORS OF
NORWOOD RESOURCES LTD.
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 forward-looking statements.
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, E-Mail: email@example.com, Telephone: (604) 642-6566