Whitecap Resources Inc. press release
Pincher Creek Well Update
TSX - Toronto Stock Exchange · Oil · Natural Gas · Natural Gas Liquids · Canada
(via Thenewswire.ca)
November 12, 2008 - CALGARY, ALBERTA - Pennine Petroleum Corporation (PNN on TSX.V) (the "Company") announces the Brown Sand formation at the Pennine Pinch Ck 100/01-11-004-29W4M Project is not economically productive and efforts are focused on the Cadomin formation at the same Project. In its attempts to produce from the Brown Sand, the Cadomin formation produced 81 cubic metres of clean, light gravity oil which was subsequently sold.
Pennine and partners are now preparing the Cadomin for additional production testing prior to final installation of the solution gas conservation pipeline.
About Pennine Petroleum Corporation
Pennine Petroleum Corporation (PNN: TSX.V) is an emerging oil and gas exploration and development company active in Alberta, Saskatchewan, and British Columbia. The Company's strategy is based on increasing cash flow by focusing on drilling and well re-completions on selective land areas where it currently operates.
For further information, contact:
Pennine Petroleum Corporation
N. Desmond Smith
T: 403 277-4421
F: 403 277-4439
E: des.smith@penninecorp.com
Boardmarker Group
Dean Stuart
T: 403 517 2270
E: dean@boardmarker.net
Statements made in this press release comprise forward-looking information based on current company operations that may vary from actual results obtained by the company. Specifically, the reader is cautioned that past production testing and swabbing may not be indicative of future stabilized flow rates. Further, while it is the policy of Pennine Petroleum Corporation to constantly review and respond to changes in the operational, competitive and regulatory environments, readers are advised that exploration and production of hydrocarbon resources carries significant risk and that the information contained herein should be used accordingly.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Copyright (c) 2008 Thenewswire.ca - All rights reserved.