Canada Gas Corp. engages Sproule Associates Ltd. for exploration and development review

    Discusses unconventional potential

    Updates other activities

    VANCOUVER, July 31 /CNW/ - Canada Gas Corp. ("Canada Gas" or the
"Company") (formerly Wyn Developments Inc.) would like to update recent
progress and clarify several inaccuracies regarding the Company. Highlights of
this update are summarized below and the full update can be viewed on the
Company's website at


    -   Canada Gas retains right to call for operations on Prophet River

    -   Sproule Associates Ltd., oil and gas consultants of Calgary, Alberta
        have been engaged to perform an independent exploration and
        development review of the Prophet River project.

    -   A Canada Gas internal review of well data and assets suggests
        presence of Cretaceous Buckinhorse shale, Triassic Montney siltstone
        and Devonian Ft.Simpson and Muskwa shales presence on the Company's
        lands, in addition to Triassic Halfway, Mississippian Shunda and
        Devonian Slave Point prospects. Thom Bainbridge, B.App.Sc, P.Geol,
        the Company's consulting geologist suggests "there is fundamentally
        no geological difference between the Ft.Simpson/Muskwa Formation
        encountered on the Prophet River and Trutch lands and that being
        explored and developed in the Horn River Basin. There is also no
        fundamental geological difference in the Triassic Halfway and Montney
        Formations been pursued by our neighbors and throughout the Western
        Canadian Sedimentary Basin."

    -   President and CEO Dave McMillan comments on the Company and market

    On Behalf of the Board of Directors,


    "David McMillan"

    David McMillan
    President & CEO


    Chad McMillan B.A. (Cmns)
    Vice President, Corporate Communications
    (604) 685-5851 or Toll Free: (888) 685-5851

    Corporate Information

    Canada Gas Corp,
    520 - 700 West Pender Street
    Vancouver, BC, V6C 1G8
    604-685-5851 or Toll Free: 888-685-5851
    Fax: (604) 685-7349

                              ABOUT THE COMPANY

    Canada Gas Corp. (tsx.v: CJC; Frankfurt: YXE; otc:bb: CJCFF) is a
participant in two natural gas projects located in the prolific Western
Canadian Sedimentary Basin, northeastern British Columbia, Canada. The Prophet
River and Trutch projects feature varying PNG rights, new pool discoveries,
and multiple prospective target horizons and exploration and development
locations. The Company has approximately 20 million shares outstanding and is
currently in production.


    This press release may contain forward-looking statements including
expectations of future production. More particularly, this press release
contains statements concerning the Partners' future production estimates,
expansion of oil and gas property interests, exploration and development
drilling, regulatory applications, payout estimates, capital expenditures, and
drilling locations to be drilled in 2008. These statements are based on
current expectations that involve a number of risks and uncertainties, which
could cause actual results to differ from those anticipated. These risks
include, but are not limited to: the risks associated with the oil and gas
industry (e.g., operational risks in development, exploration and production;
delays or changes in plans with respect to exploration or development projects
or capital expenditures; the uncertainty of reserve estimates; the uncertainty
of estimates and projections relating to production, costs and expenses, and
health, safety and environmental risks), commodity price, price and exchange
rate fluctuation and uncertainties resulting from potential delays or changes
in plans with respect to exploration or development projects or capital
expenditures. Additional information on these and other factors that could
affect the Partners' operations or financial results are included in the
Partners' reports on file with Canadian securities regulatory authorities. The
forward-looking statements or information contained in this news release are
made as of the date hereof and the Partners undertake no obligation to update
publicly or revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so required by
applicable securities laws. Oil and Gas Advisory. This press release may
contain disclosure expressed as "boe". All oil and natural gas equivalency
volumes have been derived using the ratio of six thousand cubic feet of
natural gas to one barrel of oil. Equivalency measures may be misleading,
particularly if used in isolation. A conversion ratio of six thousand cubic
feet of natural gas to one barrel of oil is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the well head. The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy
of this release.

For further information:

For further information: on Canada Gas Corp., please visit or contact the Company toll free at 1-888-685-5851

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890