Cardiff Energy Corp. Provides Clayton #1H Flow Test Update
Vancouver, BC / TheNewswire / Cardiff Energy Corp. (the "Company") (TSX-V: "CRS", Frankfurt: "C2Z.F", US Pinksheets: "CRRDF") is pleased to provide a follow up to their November 30, 2015 news release.
Eastern Shelf Operating LLC, Operator of the Clayton #1H, swabbed the well for 3 days with the objective of unloading the completion fluid from water jetting that was used to clean the Gardner Lime formation. The swabbing operation was successful in recovering a large amount of completion fluid with significant oil and gas shows. With these positive results the Operator decided to install a Moyno production pump which required the installation of 3200ft of new production tubing to accelerate the removal of the completion fluid. The pump was installed on Saturday December 5, 2015 and began pumping completion fluid out of the formation. Continuous pumping of the well has demonstrated that the Gardner has strong inflow, and is flowing completion fluid along with good gas flow and increasing oil showings. Additional tubing is being installed today to allow the production pump to extract from the 4200ft level which is the beginning of the lateral. The Company expects the completion fluid to decrease and hydrocarbons to be the dominant flow. Once the completion fluid is depleted the Operator will commence flow testing of the Clayton #1H well.
Derek Stonehouse, VP Exploration for Cardiff Energy, states "We are very pleased with the well results to date. The Gardner Lime formation is responding well and hydrocarbon shows are increasing as completion fluid is being removed. We expect the flow test to be completed within a few days."
To learn more about the Company and the drilling of the Clayton #1H horizontal well please visit:
http://www.cardiffenergy.com/i/pdf/Runnels-County-Texas.pdf
The Company holds a 70% working Interest ("WI") in the Clayton #1H and their JV Partner Equitorial Exploration Corp. holds a 30% WI. The Company holds a 100% WI in the Bearcat #4.
About the Company
Cardiff is an emerging junior oil and gas company engaged in the acquisition, exploration, development, and production of oil and gas properties. Cardiff is listed on the TSX Venture Exchange under the symbol CRS. For additional details please visit Cardiff's website at www.cardiffenergy.com
For additional information contact:
Jack Bal, President and CEO
604-306-5285
jackbalyvr@gmail.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jack Bal"
Jack Bal,
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements relating to the future operations of the Company. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.
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