TSX Venture Exchange Symbol: DES
CALGARY, Dec. 10 /CNW/ - Desmarais Energy Corporation (TSXV: DES) (the "Corporation" or "Desmarais") announces that the Corporation has received a pipeline licence to proceed with the tie-in of a significant well drilled and evaluated in September/October 2010. Drilled and equipped at no cost to Desmarais, the well was the second well to be drilled on anomalies identified with 3-D seismic shot by Desmarais. The joint venture drilling program is expected to continue in early 2011.
The Corporation has an inventory of 5 additional wells to re-activate following minor work-overs, and 1 well to evaluate which is standing cased. In all these wells, Desmarais has high working interests and operatorship. The Corporation will continue to report on the progress of these operations on a timely basis as we build toward a balanced portfolio of natural gas and oil prospects, and generate significant cash flow.
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.
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