CALGARY, May 8, 2014 /CNW/ - Nick Taylor CEO of Softrock Minerals Ltd (TSXV: SFT) is pleased to announce a turnaround in the finances of the company with the 2013 year end audited statements showing a working capital of $113,716 versus last year's negative of $35,992, likewise a net income of $82,582 for 2013 against 2012's loss of income of $89.163.
The company has used some of its income to acquire a 95% working interest, subject to a 3% GORR in a suspended Cardium oil and gas well in the Ferrier field area of Alberta which the company feels can be recompleted.
Meanwhile, the unusually cold winter has delayed production testing on the company's two and one-half percent GORR interest in the first well on its acreage in the northwest Alberta Charlie Lake oilfield.
The operator of the Charlie Lake well indicates that production testing will start this summer.
Taylor added that talks are continuing with a couple of prospective partners to further explore Softrock's Alberta potash properties.
Neither the TSX Venture nor its Regulation Service Provider (as the term is defined in the policies of the TSX-V Exchange) accepts the responsibility for the accuracy or adequacy of this release.
SOURCE: Softrock Minerals Ltd.
For further information: Nick Taylor at 403-266-2605, or [email protected], or www.softrockminerals.com