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


Glamis Resources Ltd. (TSX VENTURE:GLM.A) (TSX VENTURE:GLM.B) ("Glamis" or "the
Company") is pleased to provide an operations update for our recently drilled
exploration well in southeast Saskatchewan.


Glamis recently drilled and completed it's first of five separate oil
exploration targets that are planned to be drilled in southeast Saskatchewan and
southwest Manitoba throughout 2009. The 100% working interest horizontal well
was drilled to a total measured depth of 1770 m and encountered an oil-bearing
Tilston reservoir. An intensive open hole swabbing operation resulted in the
recovery of nearly all the load fluid and established an oil cut ranging from
50% to 32% in various intervals. Additionally, based on the Corporation's
evaluation of inflow performance, management believes that the well is capable
of producing up to 750 bbls of fluid per day. Initial production is estimated to
average approximately 200 bbls of light oil (39 degrees API) per day. Glamis
expects to drill its next exploratory target in southeast Saskatchewan by the
end of July.


Glamis Resources Ltd. is a junior oil and gas company formed to generate and
develop its own prospects, acquire oil and gas properties and participate with
joint venture partners in oil and gas exploration and development in the Western
Canadian Sedimentary Basin. The Company's Class A Shares and Class B Shares
trade on the TSX Venture Exchange under the symbols GLM.A and GLM.B. The Company
currently has 24,190,442 Class A shares and 922,500 Class B shares outstanding.


FORWARD LOOKING STATEMENTS: Certain information regarding Glamis in this news
release including management's assessment of future plans and operations, timing
of drilling and tie-in of wells, productive capacity of the new wells and
productive capacity from different wells, expected production rates, drilling
success rates, dates of commencement of production, may constitute forward
looking statements under applicable securities laws and necessarily involve
risks and assumptions including, without limitation, risks and assumptions
associated with oil and gas exploration, development, exploitation, production,
marketing and transportation, loss of markets, volatility of commodity prices,
currency fluctuations, imprecision of reserve estimates, environmental risks,
competition from other producers, inability to retain drilling rigs and other
services, unexpected decline rates in wells, wells not performing as expected,
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. Additional information on these and other factors
that could effect Glamis' operations and financial results are included in
reports on file with Canadian securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com). Furthermore, the forward
looking statements contained in this news release are made as at the date of
this news release and Glamis 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 may be
required by applicable securities laws. The term "boe" may be misleading,
particularly if used in isolation. A boe conversion of 6 Mcf: 1 bbl is based on
an energy equivalency conversion method primarily applicable at the burner tip
and does not represent a value equivalency at the wellhead.


(TSX VENTURE:GLM.A) (TSX VENTURE:GLM.B)

Grafico Azioni Glamis Res Ltd (TSXV:GLM.B)
Storico
Da Mag 2024 a Giu 2024 Clicca qui per i Grafici di Glamis Res Ltd
Grafico Azioni Glamis Res Ltd (TSXV:GLM.B)
Storico
Da Giu 2023 a Giu 2024 Clicca qui per i Grafici di Glamis Res Ltd