TSX Venture Exchange Symbol: DES
CALGARY, Dec. 9 /CNW/ - Desmarais Energy Corporation (TSXV: DES) (the "Corporation" or "Desmarais") announces that it has made significant improvement to operating netbacks with the completion of a pipeline project in mid-September and has since re-activated 5 gas wells in its Barrhead core area. The Corporation has an inventory of 5 additional shut-in wells which are pipeline-connected to the Desmarais-operated regional gathering system. These wells are expected to be placed back on-line with minimal capital expenditure. During the past 9 months, the company has improved its oil and liquids volumes from 20% to 43% of total volume.
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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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