LADNER, BC, Sept. 15 /CNW/ - OSE Corp. (TSX-V: OSE) is pleased to
announce that drilling has commenced on the initial test well on its Scurry
County prospect area lands, located in Scurry County, Texas. OSE Texas Corp.
("OSE Texas"), a 100% owned subsidiary of OSE Corp., has acquired the rights
to participate, to a 5% working interest (3.75% net revenue interest), in the
exploration and development of the 2,400 gross acre prospect area, as
announced in our press release dated 6 March 2008, available on www.Sedar.com.
OSE Texas is participating in this initial well to a non-operated 5%
working interest, funding 6.67% of the costs to casing point, and 5% of the
costs thereafter, should the well be completed. The well is targeting the
first of five to seven structural targets indicated on 3-D seismic within the
prospect area, and is testing a Strawn-formation target at approximately
2,400m depth subsurface. By participating in this initial test well, OSE Texas
will retain its participation rights within the prospect area.
OSE will provide an update when the well has reached total depth and
results of testing and logging are available.
On behalf of the Board,
Manjit Sihota, President
This document may contain certain forward looking statements which
involve known and unknown risks, delays, and uncertainties not under the
corporations control which may cause actual results, performance or
achievements of the corporation's to be materially different from the results,
performance or expectation implied by these forward looking statements.
"TSX Venture Exchange" does not accept responsibility for the adequacy or
accuracy of this news release.
For further information:
For further information: Manjit Sihota, President, Phone: (604)