SASKATOON, SK, Feb. 8, 2010 /CNW/ - Star Uranium Corp. (SUV - TSX Venture) - Star Uranium Corp. ("Star Uranium" or the "Corporation") announced today the results of its two well drilling program.
The Corporation participated in the drilling of two wells prior to December 31, 2009, which resulted in one economic gas well (0.5 net) and one suspended cased gas well (0.5 net). Wrangler West Energy Corp., the operator of the project, is in negotiations to tie in the economic gas well to a third party pipeline and gas plant. It is estimated that production from this well will be limited to 300mcf/d. The economics of the standing cased potential gas well are subject to re-evaluation based on commodity price conditions.
Kyle Kozuska, interim President of Star Uranium states "We are pleased with the progress to date of our drilling program and that the operator completed the program on time and under budget. Our initial assessment is that the program has been positive for our company and we will continue to update shareholders on our progress."
Star Uranium is a Canadian based entity focused on the strategic acquisition and development of resource properties.
For more information please visit our website at www.staruranium.com.
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Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Corporation as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include risks, uncertainties and other factors that are beyond the control of the Corporation, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although the Corporation believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Corporation contained in this press release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement.
SOURCE Star Uranium Corp.
For further information: For further information: Star Uranium Corp., Kyle Kozuska, (306) 664-3828, Facsimile: (306) 244-0042, www.staruranium.com, firstname.lastname@example.org