Friday, 07 November 2014 08:30 AM
Vancouver, BC / ACCESSWIRE / November 7, 2014 / CARDIFF ENERGY CORP. (the "Company") (TSX-V: "CRS") announces the progress of the Bearcat #4 well testing in Ballinger, Texas. Martin Energy, the operator reports the well has been placed on pump and the initial zone of testing, the Gardner Lime, is unloading approximately 40 barrels of frac fluid per 24 hour period. There is still approximately 90 barrels of frac fluid to recover. Further testing for oil and gas in the Gardner Zone will follow.
As reported in our news release of October 10, 2014, additional formations including the Jennings Sand and the Palo Pinto Lime are present in the well. The operator, Martin Energy has further analysed the well logs and states that, "the Goen Lime, Middle Caps Lime and Dog Bend Lime structures are present in the well and warrant testing". As these formations are tested and their economic value is appraised, Cardiff will inform its shareholders of the results. Cardiff holds a 60% working interest in the Bearcat #4 well.
Cardiff is progressing towards preparations for the three well programs to commence this year on the recently purchased 468 acre oil and gas lease in Runnells County, Texas.
Jack Bal, President of Cardiff states, "We are looking forward to completing the Bearcat #4 well and are very encouraged with the multi-zone opportunity present in this area."
To learn more about the Bearcat #4 well please visit:
http://www.cardiffenergy.com/i/pdf/reports/BEARCAT-4-July-2014.pdf
About the Company
Cardiff is an emerging junior oil and gas company engaged in the acquisition, exploration, development, and production of oil and gas properties. Cardiff is listed on the TSX Venture Exchange under the symbol CRS. For additional details please visit Cardiff's website at www.cardiffenergy.com
For additional information contact:
Jack Bal, President
Cardiff Energy Corp
604-306-5285
ON BEHALF OF THE BOARD OF DIRECTORS
"Lorne Torhjelm"
Lorne Torhjelm,
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements relating to the future operations of the Company. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of 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 expressly required by applicable securities laws.
SOURCE: Cardiff Energy Corp