CALGARY, June 20 /CNW/ - Vital Resources Corp. ("Vital") (CNQ Exchange -
VITL; Frankfurt Stock Exchange - VZN) is pleased to update shareholders on the
potential acquisition of Ramok and Senabing oil and gas fields in Sumatra,
A "Ni 51-101" compliant reserve report on Ramok and Senabing fields has
been completed by GLJ an internationally-recognized engineering firm for Vital
Resources. GLJ's report gives the fields a Total Gross Lease Marketable
Reserves of 2,096.9 Mbbl; Proven and Probable is 520.8 Mbbl, Possible
1,576.1 Mbbl. The Total Company Interest is 1,011.4 Mbbl, Proven and Probable
is 332.0 Mbbl, Possible 679.4. This reserve and resource report was prepared
in accordance with the requirements of Canadian National Instrument 51-101 on
firm Standards of Disclosure for Oil and Gas Activities ("NI 51-101").
Ramok and Senabing fields continue to show strong production and
presently producing over 100 bopd generating $390,000 USD in May, 2008, with a
netback of approximately $200,000 USD.
Vital is continuing to work towards the potential closing of the
acquisition of Ramok and Senabing fields.
"We are pleased with the results of GLJ's report and are excited to
finalize this acquisition and begin working on fully developing the potential
of Ramok and Senabing Fields, said Michael Whitehead, President and CEO. We
appreciate the support of our shareholders and look forward to rewarding their
Vital is continuing to work with another party on the Indonesian
acquisition. This relationship will build and strengthen the team while adding
a tremendous amount of international experience in the oil and gas industry.
Vital Resources is a Calgary-based international junior oil and gas
Certain information regarding Vital contained herein may constitute
forward-looking statements within the meaning of applicable securities laws.
Forward-looking statements may include estimates, plans, anticipations,
expectations, opinions, forecasts, projections, guidance or other similar
statements that are not statements of fact. Although Vital believes that the
expectations reflected in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove to be correct. These
statements are subject to certain risks and uncertainties and may be based on
assumptions that could cause actual results to differ materially from those
anticipated or implied in the forward-looking statements. Vitals'
forward-looking statements are expressly qualified in their entirety by this
The CNQ Exchange does not accept responsibility for the adequacy or
accuracy of this release.
For further information:
For further information: Michael Whitehead, President & CEO, Vital
Resources Corp., Kevin Worth, Investor Relations, Phone: (403) 668-1645,
Email: email@example.com, Website: www.vitalrescorp.com