Canadian Energy Exploration Inc. announces operational results at Hardy Area, Saskatchewan
20 Luglio 2011 - 2:00PM
PR Newswire (Canada)
CALGARY, July 20, 2011 /CNW/ -- CALGARY, July 20, 2011 /CNW/ -
Canadian Energy Exploration Inc. ("Canadian Energy" or the
"Company") (TSX Venture - "XPL") is pleased to announce further to
its announcement of the spud of the Well at CEEI Ceylon 2-18-5-20W2
(see press release dated July 7, 2011) (the "Well"), that it has
finished drilling the Well to a total depth of approximately 1838
meters, and both cored and cased the Well. Further evaluations on
the Well are planned. As previously press released, the Well will
preserve all mineral rights contained in the 2,400 acre (3.75
section) lease to March 31, 2012 but is not considered an option
well under the farmin agreement announced on October 21, 2010. CEEI
has also completed two evaluation operations in the Bakken
formation by fracturing both Company wells at 5-27-4-21W2 and
5-17-5-21W2M, following which a service rig has been engaged to
move onto both wells this week for further evaluations About
Canadian Energy Exploration Inc. Canadian Energy Exploration Inc.
is a junior oil and gas company engaged in the exploration for and
development and production of oil and natural gas reserves in
Western Canada. The Company's common shares trade on the TSX
Venture Exchange under the symbol "XPL". 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.
Advisory Certain statements and information contained in this press
release, including but not limited to statements regarding the use
of proceeds contain forward-looking statements. All statements
other than statements of historical fact may be forward looking
statements. These statements, by their nature, are subject to
numerous risks and uncertainties, some of which are beyond Canadian
Energy's control including the effect of general economic
conditions, industry conditions, changes in regulatory and taxation
regimes, volatility of commodity prices, escalation of operating
and capital costs, currency fluctuations, the availability of
services, imprecision of reserve estimates, geological, technical,
drilling and processing problems, environmental risks, weather, the
lack of availability of qualified personnel or management, stock
market volatility, the ability to access sufficient capital from
internal and external sources and competition from other industry
participants for, among other things, capital, services,
acquisitions of reserves, undeveloped lands and skilled personnel
that may cause actual results or events to differ materially from
those anticipated in the forward looking statements. Such
forward-looking statements, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated in
the statements made and should not unduly be relied on. These
statements speak only as of the date of this press release.
Canadian Energy does not intend and does not assume any obligation
to update these forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by
applicable law. Canadian Energy's business is subject to various
risks that are discussed in its filings on the System for
Electronic Document Analysis and Retrieval (SEDAR). To view this
news release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/July2011/20/c6395.html p
/p p bCanadian Energy Exploration Inc. /bbr/ bLarry
Buzan, President and/b br/ bChief Executive Officer/b /p p P:
(403) 229-2800br/ E-mail: ua
href="mailto:buzan@cdnenergy.com"buzan@cdnenergy.com/a/u /p
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