VANCOUVER, April 7 /CNW/ - Trans-Orient Petroleum Ltd. (TSX-V: TOZ and
OTCBB: TOPLF) announces that it has been awarded a 100% interest in it's third
onshore petroleum exploration permit (PEP 50940) that covers an additional
112,000 acres in New Zealand's East Coast Basin.
Trans-Orient CEO Garth Johnson commented, "This new permit is highly
complimentary to the existing leads and unconventional fractured oil-shale
opportunities identified in the Company's adjoining permit PEP 38348. Our
field and subsurface work in PEP 38348 indicates that potentially large
prospects extend into this new area."
PEP 50940 is located in the northern, oil prone area of the East Coast
Basin where local oil and gas seeps confirm a working hydrocarbon system. The
sparsely explored area has potential for both large conventional Miocene
prospects and widespread unconventional fractured oil-shale opportunities. The
organic-rich Waipawa Formation and the 300-500m thick Whangai Formation
underlying this Permit are world-class source rocks that compare favorably
with other source rocks such as the Bakken Shales and Barnett Shales of North
"This new area solidifies and builds upon our acreage position now
totaling 2.27 million acres. Future drilling will target conventional
exploration prospects and the unconventional fractured oil-shale opportunity
where independent reports have estimated multi-billion barrel oil equivalent
of prospective resources."
The term "Prospective Resources" refers to those quantities of petroleum
estimated, as of a given date, to be potentially recoverable from undiscovered
accumulations by application of future development projects. Prospective
Resources have both an associated chance of discovery and a chance of
development. There is no certainty that any portion of the resources will be
discovered. If discovered there is no certainty that it will be commercially
viable to produce any of the resources.
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of applicable legislation.
Other than statements of historical fact, all statements in this release
addressing future operations, undiscovered hydrocarbon resource potential,
exploration, potential reservoirs, prospects, leads and other contingencies
are forward-looking statements. Although management believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance, and
actual results may differ materially from those in the forward-looking
statements due to factors such as market prices, farm-outs, relinquishments,
exploration successes, continued availability of capital and financing, and
general economic, market, political or business conditions. Please see our
public filings at www.sedar.com for further information.
The TSX Venture Exchange has not reviewed, and does not accept
responsibility for the adequacy or accuracy of the content of this news
For further information:
For further information: Garth Johnson, CEO, (604) 682-6496,