Winstar Provides Update on the Testing Schedule of its Silurian Exploration Well in Southern Tunisia

CALGARY, Jan. 31 /CNW/ - Winstar Resources Ltd. ("Winstar" or "the Company") (TSX: WIX) provides an update on the testing of Chouech Essaida Silurian #1 Well ("CS Sil #1"), on its 100% owned and operated Chouech Essaida Concession in Southern Tunisia. 

The Company is pleased to report that the extensive testing program on CS Sil #1 commenced today and should require a minimum of three weeks to complete.

There are five individual production test intervals within the Silurian Tannezuft and Acacus Formations scheduled for CS Sil #1, all of which were assessed using open-hole log data. The Devonian Ouan Kasa and Triassic TAGI Formations will not be production tested at this time due to the complexities associated with the downhole testing equipment configuration.

Testing is designed to determine the fluid type, initial deliverability and reservoir pressure of each Silurian zone within numerous packages of sandstone. The Company continues to caution that open-hole log data is interpretative and that a comprehensive testing program is required to estimate better the technical reservoir parameters and productive capacity of the well.

Forward-Looking Statements

This press release contains certain forward-looking statements. These statements relate to future events or future performance of the Company. When used in this press release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "predict", "seek", "propose", "expect", "potential", "continue", and similar expressions, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to certain events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause Winstar's actual results, performance, or achievements to materially differ from those described in this press release. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated, or expected. Specific forward-looking statements in this press release include, among others, statements pertaining to the following: factors upon which Winstar will decide whether or not to undertake a specific course of action; and estimated volumes and timing of future production; business plans for drilling, exploration and development; and other expectations, beliefs, plans, goal, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. The risks to which the Company is subject include those of the oil and gas industry in general including operational risks in exploring for, developing and producing crude oil and natural gas; risks and uncertainties involving geology of oil and gas deposits; volatility in global market prices for oil and natural gas; general economic conditions; competition; liabilities and risks, including environmental liability and risks, inherent in oil and gas operations; uncertainties as to the availability and cost of financing and changes in capital markets; alternatives to and changing demand for petroleum products; and changes in legislation and the regulatory environment. Furthermore, statements relating to "reserves" or "resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions to the effect that the resources and reserves described can be produced profitably in the future. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. These statements speak only as of the date of this press release. The Company does not intend and does not assume any obligation, to update these forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.   

Winstar Resources Ltd. is a Calgary based junior oil and gas company, which explores for, develops, produces, and sells crude oil, natural gas liquids and natural gas in Tunisia, Romania and Hungary. Winstar's common shares trade on The Toronto Stock Exchange under the symbol WIX.

SOURCE Winstar Resources Ltd.

For further information:

Mr. Charles de Mestral
Chief Executive Officer
Phone: +41 22 361 14 45
(Note: Mr. de Mestral is based in Europe, in a time zone eight hours ahead of Calgary time)


Mr. David Monachello  
Phone: +1 403 513 4200 
E-mail : 


Mr. Bradley Giblin
Chief Financial Officer
Phone : +1 403 513 4207
E-mail :

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Winstar Resources Ltd.

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