DIAZ RESOURCES LTD.
#1800, 633 Sixth Avenue SW Calgary, AB
T2P 2Y5 Canada
Tel: (403) 264-2398
Fax: (403) 269-9890
The following is for immediate release in Canada, December 7, 2011
DIAZ ANNOUNCES DRILLING SUCCESS AT MACKLIN, SASKATCHEWAN
Diaz Resources Ltd. (TSXV: "DZR") announces today that it has participated in drilling two additional Dina horizontal heavy oil wells at Macklin, Saskatchewan. The two wells were placed on production in December and each are currently producing at a flush production rate of 120 barrels of oil per day (54 bopd net per well).
These two wells are 50 metre offset wells to a Dina oil well Diaz drilled and placed on production
September 18, 2011, which is currently producing 80 bopd (36 bopd net), and to date has produced
7,000 barrels of oil. Diaz has a 45% working interest in the project.
Further development at Macklin is scheduled for the second quarter of 2012.
With the addition of these two new oil wells at Macklin and the four recently drilled oil wells at Lloydminster, Alberta, Diaz expects to exit December 2011 with a net oil production rate of 225 barrels per day contributing to a company net total of 450 boepd.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Robert W. Lamond, Chairman & CEO
DIAZ RESOURCES LTD. Telephone: (403) 269-9889
Fax: (403) 269-9890
TSXV: DZR
Donald K. Clark, Vice President Operations
DIAZ RESOURCES LTD. Telephone: (403) 269-9889
Fax: (403) 269-9890
ADVISORY: Certain information in this news release, including
drilling plans and projected drilling, completion and
equipping costs, and production rates from the Lloydminster
and Macklin fields may constitute forward-looking statements
under applicable securities laws and necessarily involve
risks including, without limitation, risks associated with
oil and gas exploration, development, exploitation,
production, marketing and transportation, loss of markets,
volatility of commodity prices, currency fluctuations,
environmental risks, competition from other producers,
inability to retain drilling rigs and other services, capital
expenditure costs, including drilling, completion and
facilities costs, delays resulting from or inability to
obtain required regulatory approvals and ability to access
sufficient capital from internal and external sources. As a
consequence, actual results may differ materially from those
anticipated in the forward-looking statements. Readers are
cautioned that the foregoing list of factors is not
exhaustive.
Where amounts are expressed on a barrel of oil equivalent
(boe) basis, natural gas volumes have been converted to
barrels of oil at six thousand cubic feet (mcf) per barrel
(bbl). Boe figures may be misleading, particularly if used in
isolation. A boe conversion of six thousand cubic feet per
barrel is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent
a value equivalency at the wellhead. References to oil in
this discussion include crude oil and natural gas liquids
(NGLs).
The forward looking statements contained in this press
release are made as of the date hereof and Diaz undertakes no
obligations to update publicly or revise any forward looking
statements or information, whether as a result of new
information, future events or otherwise, unless so required
by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
distribué par | Ce noodl a été diffusé par Diaz Resources Ltd. et initialement mise en ligne sur le site http://www.diazresources.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2011-12-07 18:00:37 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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