BEE Bee Vectoring Technologies International Inc

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Benchmark Energy Corp. (TSX VENTURE:BEE) ("Benchmark" or the "Company") is
pleased to report that Canacol Energy ("Canacol"), as operator, has cased the
Recio 1 exploration well in Colombia as a potential oil discovery. The Recio 1
well is located on the Sierra Exploration and Production Contract ("Sierra E&P
Contract") in the Middle Magdalena Basin of Colombia. The Sierra E&P Contract
was awarded in 2007 by the Agencia Nacional de Hidrocarburos; Benchmark holds a
25.5% non-operated working interest in the contract.


The Recio 1 well targeted the Lower Tertiary Honda Formation, which is a
prolific oil producer within the Middle Magdalena Basin of Colombia. The Recio 1
exploration well was spud on March 15, 2010 and reached total depth of 1,812
measured feet on March 22, 2010. The well encountered approximately 10 feet of
potential oil pay within a sandstone of the Middle Honda Formation at 1,548 to
1,558 feet measured depth, with good oil and gas shows while drilling. The well
also encountered approximately 27 feet of potential oil pay within a sandstone
of the Lower Honda Formation at 1,608 to 1,635 feet measured depth. Benchmark
and its partners in the Sierra E&P Contract plan to test both zones, and will
report the results when available.


Partners in the Sierra E&P Contract include Benchmark (25.5%), Canacol (25.5%),
TC Oil and Services (24.5%), and Winchester Oil and Gas S.A. (24.5%).


Forward-Looking Statements

Certain information set forth in this press release, including management's
assessment of future plans and operations, contains forward-looking statements.
The use of any of the words "anticipate", "continue", "estimate", "expect",
"may", "will", "project", "should", "believe" and similar expressions are
intended to identify forward-looking statements. By their nature,
forward-looking statements are subject to numerous risks and uncertainties, some
of which are beyond management's control, including the impact of general
economic conditions, industry conditions, volatility of commodity prices,
currency fluctuations, imprecision of reserve or resource estimates,
environmental risks, competition from other industry participants, the lack of
availability of qualified personnel or management, stock market volatility and
the ability to access sufficient capital from internal and external sources.
Readers are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements. Actual results, performance or achievement could
differ materially from those expressed in, or implied by, these forward-looking
statements. No assurance can be given that any of the events anticipated will
transpire or occur, or if any of them do so, what benefits will derive from
them. Benchmark disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

Grafico Azioni Bee Vectoring Technologies (TSXV:BEE)
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Da Ott 2024 a Nov 2024

Grafico Azioni Bee Vectoring Technologies (TSXV:BEE)
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Da Nov 2023 a Nov 2024