TUS

Tuscany Energy Ltd. ("Tuscany") (TSX VENTURE:TUS). Tuscany reports the results
of its three heavy oil well drilling program in west-central Saskatchewan.


Tuscany holds a 60% working interest in two new wells at Evesham, Saskatchewan,
which were placed on production in August, 2013 at rates of approximately 170
bopd each. To date the wells have produced over 7,000 barrels of oil each and
are currently producing at rates of approximately 170 bopd and 160 bopd.


At Macklin, Saskatchewan Tuscany has a 100% working interest in a new well also
placed on production in August, 2013. The Macklin well has produced over 3,500
barrels of oil and is currently producing at a rate of approximately 55 bopd.


The additional production from these wells, increases Tuscany's average
production rate to approximately 750 boed, of which 76% comprises of oil
production.


Reservoir history indicates that production rates will steadily decline, however
the Company is encouraged by the initial production rates of the two Evesham
wells which are the best rates encountered in the pool, to date.


Tuscany plans to continue its development program in this area with additional
drilling before year end.


ADVISORY: Certain information regarding the Company in this News Release
including management's assessment of future plans and operations 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, imprecision of reserve estimates, environmental risks, competition
from other producers, inability to retain drilling rigs and other services,
capital expenditure costs, including drilling, completion and facilities costs,
unexpected decline rates in wells, wells not performing as expected, 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 exhausted. Additional information on these and other factors that
could affect the Company's 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) and at the Company's website
(www.tuscanyenergy.com). Furthermore, the forward-looking statements contained
in this news release are made as at 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 may be required by applicable securities
laws. 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).


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tuscany Energy Ltd.
Robert W. Lamond
President & CEO
(403) 269-9889


Tuscany Energy Ltd.
Donald K. Clark
Vice President Operations & COO
(403) 269-9889
(403) 269-9890 (FAX)
www.tuscany.com

Grafico Azioni Tuscany Energy Ltd. (TSXV:TUS)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Tuscany Energy Ltd. (TSXV:TUS)
Storico
Da Giu 2023 a Giu 2024