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Canuc Commences Production at Texas Wells

Canuc Resources Corporation (CDA.V) reported that the W-B 533 Unit #1 oil and gas well located on the Walker Buckler lease in Shackleford County, Texas commenced production on March 11, 2013 at an estimated rate of 25 barrels of sweet West Texas Intermediate oil per day and 80 McF of natural gas.

As previously announced, the W-B 533 Unit #1 well was completed to a depth of 4,458 feet and intersected 3 oil bearing horizons within the Caddo limestone, a known hydrocarbon bearing unit in the area. Historically wells in the Caddo limestone operate for many years. The Walker Buckler lease is a 14,754 acre land package that could accommodate 10 - 15 additional wells. Canuc has a 15% working interest (12% net revenue interest) in the lease.

Drilling has recently commenced on the Thompson "A" lease which consists of 160 acres in Stephens County, Texas. Canuc has a 20% working interest (16% net revenue interest) in this lease.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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