Contact Exploration Provides New Brunswick Operations Update
Contact Exploration Inc. (CEX.V), which closed Monday near a year low 12.5 cents, reported that it spud its 'Hopewell Prospect"' well (94% working interest) in New Brunswick on September 18th. As previously announced, the Hopewell Prospect is located in the Edgett's Landing area of New Brunswick, approximately 10 km south of the producing Stoney Creek oil and gas field. It said: "The Hopewell Prospect is defined by seismic and well control and is being drilled to help confirm the extent of this structure and reservoir quality. With success, it is anticipated that this exciting petroleum prospect would be developed with multiple horizontal wells using a similar completion strategy to the company's existing Stoney Creek field."
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.