CALGARY, Dec. 20 /CNW/ - Kallisto Energy Corp. (TSX Venture: KEC) ("Kallisto" or the "Company") announces that the 10-34-027-01W5 well has been drilled, cased and is
awaiting completion. Logs from the well, which spudded November 26,
indicate approximately twelve meters of crossover at 12 percent
porosity within twenty-two meters of gross pay in the Ellerslie
formation which is expected to contain liquids rich natural gas.
Completion operations are anticipated to commence in January 2011.
Kallisto has a 50% working interest in the well.
Kallisto holds P&NG rights in 1,520 net acres adjacent to the 10-34 well
that the Company believes are prospective for Ellerslie development.
These lands are included within the area of the Company's Viking
horizontal oil resource play.
During drilling operations, Kallisto recovered eighteen meters of core
from the Viking formation as part of its continuing analysis of its
Crossfield area Viking oil resource play.
Kallisto is a Calgary-based junior resource company engaged in the
exploration, development and production of oil and natural gas,
primarily in Alberta.
Forward Looking Information
The reader is advised that some of the information herein may constitute
forward looking statements within the meaning assigned by National
Instrument 51-102 and other relevant securities legislation. In particular these
include, but are not limited to, statements with respect to potential
results from completion operations and encountering commercial
quantities of natural gas and natural gas liquids. These statements are
based on management's current expectations. The reader is cautioned
that assumptions used in the preparation of such information, although
considered reasonable by Kallisto at the time of preparation, may prove
to be incorrect and readers are cautioned not to place undue reliance
on forward-looking information, which speaks only as of the date
hereof. The Company does not undertake any obligation to release
publicly any revisions to forward-looking information contained herein
to reflect events or circumstances that occur after the date hereof or
to reflect the occurrence of unanticipated events, except as may be
required under applicable securities laws.
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.
SOURCE Kallisto Energy Corp.
For further information: For further information:
President and Chief Executive Officer
Telephone: (403) 237-9996
Facsimile: (403) 264-0416