Trading Symbol: NRS
VANCOUVER, Nov. 23 /CNW/ - Norwood Resources Ltd. (the "Company") announces that the Company will drill a second sidetrack well at San Bartolo, Nicaragua. The first sidetrack well, SB-1X is considered too degraded for adequate testing of the principle hydrocarbon targets. The hole stability was compromised during low pressure nitrogen lift operations, when borehole pressures fell below formation strength resulting in hole collapse problems. Rather than risk the testing of SB-1X under these conditions, the Company has decided to drill another sidetrack utilizing available equipment presently at the well-site.
Revised plans call for certain changes to the drilling procedures for the second sidetrack. A high viscosity inhibited mud will be used to maintain wellbore stability and minimize formation damage. Also, underbalanced drilling using nitrogen circulation will only be applied while drilling through each of the target zones.
The target zones in SB-1X2 remain the same as those encountered in the initial well and in the first sidetrack; zones 10 (5963'-5978'); 9 (6050'-6100'); 7(6255'-6278') and 6 (6374'-6416') which were identified as potential hydrocarbon targets from logs and samples of oil recovered. Each target zone will be isolated and tested when first penetrated, obtaining the proper information for the completion and avoiding damage to the wellbore. After completing the first test, drilling will then continue to the lower zones, which will be isolated and tested sequentially in the same manner.
The Company anticipates the completion of this program within 3 to 4 weeks. Results will be released when all testing is completed.
ON BEHALF OF THE BOARD OF DIRECTORS OF
NORWOOD RESOURCES LTD.
WE SEEK SAFE HARBOUR
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY
FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE
For further information: For further information: about Norwood Resources Ltd. (NRS) contact: Raymond Cahill, President, E-Mail: email@example.com, Telephone: (604) 642-6566