TSX Venture Exchange Symbol: DES
CALGARY, Jan. 4 /CNW/ - Desmarais Energy Corporation (TSXV: DES) (the "Corporation" or "Desmarais") has completed the tie-in
of a significant new well in its Barrhead core area. The well was
drilled and evaluated in September/October 2010, and the Corporation
expects "new pool discovery status" to be received following the filing
of initial production data. Further information and production rates
will be made available once stabilized data becomes available. The
Alberta New Well Royalty Reduction Program of 5% will apply to this
well for the first 12 months.
Desmarais has an inventory of 5 additional wells to re-activate
following minor work-overs, and 1 well to evaluate which is standing
cased. The Corporation plans further drilling in Q1 2011 to determine
the size and potential of the latest discovery.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Advisory: This press release may contains certain forward-looking
statements within the meaning of applicable securities laws. The use
of any of the words "expect", "anticipate", "continue", "estimate",
"may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward looking
statements. Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. The forward looking statements contained in this press
release are made as of the date hereof and Desmarais undertakes no
obligation to update publicly or revise any forward looking statements
or information, unless so required by applicable securities laws.
SOURCE Desmarais Energy Corporation
For further information:
James G. Long, President
Desmarais Energy Corporation
Tel: (403) 265-8007 / Fax: (403) 264-7076