TORONTO, Aug. 2 /CNW/ -- Dover Petroleum Corp. (OTC: DVPC) today
announced that its wholly owned subsidiary, Slaterdome, Inc., and its
exploration and development partners have set production casings in six wells
as part of its summer drilling production at the Slater Dome Field in Wyoming.
Gross production at the Slater Dome Field averaged better than 800 Mcf of
natural gas per day during July, compared to 250 Mcf per day in previous
"The results of the 2007 drilling program have been very encouraging,
including drilling wells 1.50 miles from the existing Slater Dome production,
which gives us a much larger developmental area," said Robert Salna, Dover
Petroleum CEO. "Production levels will increase further as the new wells that
are drilled are connected to the pipeline."
Slaterdome's ownership amounts to a net working and operating rights
interest of approximately 33.33% in the Slater Dome Area.
In its project in Egypt, Dover Petroleum said that the EWA-4Xwell is
progressing as planned. The well is an onshore well location and is being
deviated to test the offshore Raha formation and a large light oil target in
the Nubian Sandstone reservoir in the Gulf of Suez, which forms the
significant reservoir in several major oilfields. The well spudded 11th July
and is currently drilling at 2,200 feet at an angle of 41A:. The current
drilling anticipates that 13 3/8" casing will be set in the next few days and
then Dover will continue drilling the well which will deviate up to an angle
of 65A: from the vertical. Dover anticipates that the well will reach target
depth which is expected to be below 7,100 ft (drilled depth) or 4,180 ft
vertical depth in about 20 days time.
The statements contained in this press release which are not historical
fact are forward looking statements that involve certain risks and
uncertainties including, but not limited to, decreases in prices for natural
gas and crude oil, unexpected decreases in gas and oil production, the
timeliness, costs and success of development activities, unanticipated delays
and costs resulting from regulatory compliance, and other risk factors
described from time to time in the Company's periodic reports filed with the
Securities and Exchange Commission. No assurances can be given that these
statements will prove to be accurate. A number of risks and uncertainties
could cause actual results to differ materially from these statements. While
these forward-looking statements, and any assumptions upon which they are
based, are made in good faith and reflect our current judgment regarding the
direction of our business, actual results will almost always vary, sometimes
materially, from any estimates, predictions, projections, assumptions or other
future performance suggested herein. Except as required by applicable law,
including the securities laws of the United States, we do not intend to update
any of the forward-looking statements to confirm these statements to actual
Dover Petroleum Corp.
E & E Communications
Dover Petroleum Corp.
905/884-3988, ext. 1
For further information:
For further information: Heather Blaine, +1-905-884-6958, Robert Salna,
+1-905-884-3988, ext. 1, both of Dover Petroleum Corp.,
email@example.com; or Paul Knopick of E & E Communications,
+1-949-707-5365, firstname.lastname@example.org, for Dover Petroleum Corp.