CALGARY, Feb. 18, 2014 /CNW/ - Nick Taylor, CEO of Softrock Minerals Ltd, is pleased to announce that the Farmor has set production casing on its first well on Softrock (TSX-V SFT) and Greencastle's (TSX-V VGN) jointly owned 640 acre Alberta Crown lease after reaching a total measured depth of 3006 meters with the last 1420 meters being lateral (horizontal) in the Charlie Lake formation. In the next few weeks the farmor expects to frac and complete the well which would earn it a 100% working interest in the section subject to a 5% net GORR ( with no deductions) to Greencastle and Softrock. The farmor has made an earlier payment of $400,000 to Softrock and Greencastle.
Also of interest was the fact that three shallower horizons in the well showed hydrocarbon possibilities and the government has announced that spacing units on the Charlie Lake could be two wells per 160 acres.
The Company (SFT-V) also announces that a total of one million (1,000,000) stock options to purchase Softrock common shares were granted February 14, 2014 to directors and officers of the Company at an exercise price of 0.05 per share, expiring on February 14, 2019. The grant of options is subject to Exchange approval.
Neither the TSX Venture nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the accuracy or adequacy of this release
SOURCE: Softrock Minerals Ltd.
For further information:
For more information contact Nicholas Taylor at 403-207-3658 or www.softrockminerals.com