Northern Explorations Seismic Data Confirms First Drill Target in California
DALLAS, TX, Jul 14 (MARKET WIRE) --
Northern Explorations Ltd. (OTCBB: NXPN) ("Northern," "Norex" or the
"Company") is pleased to provide updated details of the Company's
California Gas Project, located approximately 20 miles south of the city
of Sacramento along the Upper Cretaceous Winters "Eastside Stratigraphic
Trend" of the southern Sacramento Valley.
The operator has just completed a detailed 3D Seismic reprocessing of data
and has now identified the first drilling target, a highly prospective,
relatively low risk gas pool with multiple objectives from sands that have
a combined estimated total of 3.6 BCF gas from Winters sandstones. Winters
Sands are one of the most prolific gas reservoirs in the Sacramento
Valley, accounting for over 400 BCF in historical production. Analog
producers have been identified as the Merritt Island (5.6 BCF) and
Snodgrass Slough (4.6 BCF) fields.
The first well of the program is planned to target the new 3D seismic data
that indicates over 50 feet of net pay at a depth of 7,800 feet. Should
the target prove to be 100% gas filled and is commercially viable, this
first well has a projected initial production rate (I.P.R.) of 2,000 to
4,000 MCF per day.
The Company has been informed that drilling at the test well is to
commence in approximately 30 to 45 days depending on rig availability. If
a commercial well is achieved, Norex aims to benefit from what would be a
very short pay out period for all prospect fees, seismic, drilling and
pipeline tie-in costs as an existing pipeline is less than 1/2 mile from
the site which delivers gas to PG&E Citygate, a major player in the
California gas business.
ABOUT NOREX ENERGY (NORTHERN EXPLORATIONS LTD.) (OTCBB: NXPN)
Norex Energy (Northern Explorations Ltd.) is an energy exploration Company
currently developing natural gas projects across North America. The
Company has acquired a working interest in natural gas assets located in
Texas as well as projects in California and Alberta, Canada. The projects
contain documented gas reserves and associated plant, pipeline and
infrastructure currently in place.
Notice Regarding Forward-Looking Statements
All statements contained in this Press Release, other than statements of
historical facts, that address future activities, events or developments
are forward-looking statements, including, but not limited to, statements
containing the words "believe," "anticipate," "expect" and words of
similar import. These statements are based on certain assumptions and
analyses made by us in light of our experience and our assessment of
historical trends, current conditions and expected future developments as
well as other factors we believe are appropriate under the circumstances.
However, whether actual results will conform to the expectations and
predictions of management is subject to a number of risks and
uncertainties that may cause actual results to differ materially. Such
risks include, among others, the following: international, national and
local general economic and market conditions: our ability to sustain,
manage or forecast our growth; raw material costs and availability; new
product development and introduction; existing government regulations and
changes in, or the failure to comply with, government regulations;
adverse publicity; competition; the loss of significant customers or
suppliers; fluctuations and difficulty in forecasting operating results;
changes in business strategy or development plans; business disruptions;
the ability to attract and retain qualified personnel; the ability to
protect technology; and other factors referenced in this and previous
disclosures. Consequently, all of the forward-looking statements made in
this Press Release are qualified by these cautionary statements and there
can be no assurance that the actual results anticipated by management
will be realized or, even if substantially realized, that they will have
the expected results or consequences to or effects on our business
operations.
ON BEHALF OF THE BOARD
Norex Energy (Northern Explorations Ltd.)
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Mark Schaftlein
President, CEO
To find out more about Norex Energy or Northern Explorations Ltd.
(OTCBB: NXPN), visit our website at www.norexenergyinc.com.
Contact:
Northern Explorations Ltd.
Information: 1-(866) 570-9822
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