COO Drew Cadenhead spotlights unconventional oil potential from the
Company's 2,163,855 acres in NZ's East Coast Basin
VANCOUVER, Aug. 25 /CNW/ - Unconventional oil and gas explorer
Trans-Orient Petroleum Ltd. (OTCBB: TOPLF) is pleased to announce that Dow
Jones MarketWatch interviewed company COO Drew Cadenhead on Thursday, August
21. The four-minute streaming video interview can be seen at:
Mr. Cadenhead discussed the Company's plan for using technology proven in
the Bakken, Barnett and other North American oil and gas shale formations to
drill and fracture shale in New Zealand, producing high-grade crude oil for
sale at a premium to rapidly growing Asian economies, including India and
The first area Trans-Orient plans to drill within its 2.16 million acres
of land in New Zealand's East Coast Basin is pocked with oil and gas seeps
naturally rising to surface. An independent analysis of Trans-Orient's
conventional undiscovered resource potential prepared by Sproule Associates
indicates a discovery potential of 1.7 billion barrels of oil equivalent in
place. A series of field videos showing these seeps - including a historical
wellbore full of live oil generated from the Whangai shale - is featured in
the MarketWatch interview. It can be seen online at: www.transorient.tv.
Trans-Orient CEO Garth Johnson commented, "Though our conventional oil
potential is of great interest, it gives me significant satisfaction to see
Trans-Orient's fractured oil shale project command the attention of one of the
world's largest financial publication and news portals. North American
unconventional fractured shale projects have received great attention within
the energy industry, resulting in significant value increases to shareholders.
Trans-Orient is excited to be one of the first movers in unconventional
Trans-Orient Petroleum Ltd. (http://transorient.com/) is a
Canadian-based, Australasian-focused company with significant interests in the
East Coast Basin of New Zealand. This high-potential unconventional energy
frontier encompasses the main play area where Trans-Orient is targeting
fractured shale oil-and-gas source-rock formations. These world-class
source-rocks are both widespread and thickly developed across Trans-Orient's
acreage and have a number of similarities to successful fractured shale
projects in North America such as the Bakken shale in the Williston Basin.
The term "barrels of oil equivalent" or "boe" may be misleading,
particularly if used in isolation. A boe conversion ratio of six thousand
cubic feet (6 mcf) to one barrel (1 bbl) is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead.
The term "undiscovered resources" refers those quantities of oil and gas
estimated, on a given date, to be contained in accumulations not yet
discovered. There is no certainty that any portion of the undiscovered
resource potential will be discovered or that, if discovered, it will be
economically viable or technically feasible to produce.
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 resource potential, exploration,
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, 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
For further information:
For further information: on Trans-Orient Petroleum Ltd. please call
(604) 682-6496 or visit our website at: http://transorient.com