Cardiff Energy Corp. announces initial production of the Bearcat #4 well
CARDIFF ENERGY CORP. (the "Company") November 25, 2014 / (TSX-V: "CRS") is pleased to announce initial production from the Bearcat #4 well in Ballinger, Texas. Martin Energy, the operator of the Bearcat #4 well has reported an initial production of 180 BOPD (Barrels of Oil per day) and 250,000 Cubic Feet of Gas (250 MCF).
There are two additional formations in the well to be tested at a future date, the Middle Caps and Dog Bend Lime. Most of the Gas was tested from the Gardner formation. Logs indicate Oil is also present in the Gardner Lime formation.
It is believed this zone may have been contaminated during the drilling and cementing phase. Martin Energy and Cardiff Energy are in the process of evaluating the timing and impact of a Horizontal Radial Drilling test on the Gardner formation penetrating any contamination to bring on-stream the Oil we believe is trapped.
Jack Bal, President of Cardiff Energy states, "We are very encouraged by the strong initial production of the Bearcat #4 well and expect increased production once the Gardner formation is brought on-line. Plans are underway to commence drilling 3 additional wells by the end of 2014. We are excited by the multi-zone potential in the Ballinger 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
jackbalyvr@gmail.com
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.
