Super Nova Enters Into Farmout Agreement to Earn 80% Working Interest in 10,000 Acres Bakken Formation in North West Montana
16.01.2014 | Marketwired
VANCOUVER, Jan. 16, 2014 - Super Nova Minerals Corp. (CNSX:SNP) (PINKSHEETS:SNOVF) (the "Company" or "Super Nova") announces that the Company has entered into a Farmout agreement with Norstra Energy Inc.. The Company will earn 80% working interest by drilling three vertical wells on the approximately 10,000 acres contiguous property. The property is divided into three blocks and the Company will earn 80% working interest for each vertical hole drilled on each of the three blocks.The property is in North-West Montana in Lewis and Clark County on the Alberta Bakken Fairway. This property is located 60 km south-west of the city of Great Falls and State Highway 200 traverses the property.
The Millford Colony well on this property has been spudded, drilled and cased to 850 ft.. The Company intends to drill this well to a depth of 8,900 ft. to evaluate the Bakken formation and evaluate the shallow gas formations which have been identified in this area. A gas pipeline is located 5 km east of the property. The USGS, U.S. Geological Service, has recently doubled its estimate of technically recoverable resources from the Bakken and underlying Three Forks formation to 7.4 billion barrels of oil. The prospective lands are in a new exploration area, and the Company hopes to further assess the Bakken potential in this area with the drill program. (Reference:
http://www.doi.gov/news/pressreleases/usgs-releases-new-oil-and-gas-assessment-for-bakken-and-three-forks-formations.cfm.)
The Company has commissioned Chapman Petroleum Engineering Ltd. to author a National Instrument 51-101 report on the Millford Bakken property.
This news release has been reviewed and approved by Charlie Chapman, P. Eng., of Chapman Petroleum Engineering Ltd., a Qualified Person as defined by N.I. 51-101.
There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.
On behalf of the Board of Directors: SUPER NOVA MINERALS CORP.
Wolf Wiese
President/ Chief Executive Officer
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NEITHER CSE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE COMPANY'S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.
CONTACT INFORMATION
Super Nova Minerals Corp.
Investor Relations
604-221-8936
allinfo@supernovaminerals.com
