CALGARY, Aug. 13 /CNW/ - Stealth Ventures Ltd. (Stealth) and Canyon
Services Group Inc. (Canyon) are pleased to announce that they have signed a
long-term technical alliance which will see Canyon become the primary service
provider for Stealth's fracture stimulation operations in Canada. Stealth is
one of the first operators in Canada to use Canyon's "Grand Canyon" technology
implementing it on their Cretaceous Colorado shale gas play in Alberta. "We
believe that unconventional gas has a strong role to play in the energy
security of North America and companies like Canyon with their "Grand Canyon"
technology will play a key part in helping to unlock these resources," says
Derek Krivak Chief Operating Officer at Stealth.
The "Grand Canyon" process is a fracture stimulation technique geared for
sensitive reservoirs and it uses zero water, fluids or damaging chemicals to
provide a propped fracture. This unique technology is especially designed for
formations like the Colorado Shale where minimizing formation damage is key.
"Canyon was founded on the knowledge that the future of the O&G industry will
depend upon the ability to develop techniques to unlock the difficult to
stimulate reservoirs that will allow producers to expand their business. We
are proud to work closely with Stealth Ventures on this exciting new horizon."
says Dennis Weinberger, CEO and Founder of Canyon.
Stealth is a Calgary-based junior oil and gas company whose expertise and
focus is on unconventional gas reserves including CBM, shale gas and tight gas
STEALTH VENTURES LTD.
"W. Robert Bell"
Per: W. ROBERT BELL
Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS
RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS
MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED.
For further information:
For further information: W. Robert Bell, CEO, Mark J. Roth, CFO, Stealth
Ventures Ltd., Tel.: (403) 514-9998, Fax: (403) 514-9995, Emails:
firstname.lastname@example.org; Investor Relations, First Canadian
Capital Corp, Tel.: (416) 742-5600, Tel.: (866) 580-8891, Email: