Softrock issues Progress Report "Slow and steady and weathering falling prices"
March 11 2015 - 8:00AM
PR Newswire (Canada)
CALGARY, March 11, 2015 /CNW/ - Over the last six months
the company has had the following progress or refinement in its
three main areas
- SPIRIT RIVER: On the company's
one section crown lease in the Charlie
Lake oilfield in northwestern Alberta, the first horizontal well that was
drilled one year ago at no cost to Softrock was "fraced" this past
season in 20 places in the Charlie
Lake pay zone and is now preparing to be put on production
from which Softrock is to receive a two and one-half percent Gross
Overriding Royalty interest with no deductions for treatment.
The Crown has etablished a spacing pattern of eight wells per
section which is also encouraging for the future.
- FERRIER Softrock now holds a 45 % working interest in a shut in
Cardium oilwell subject to its share of a 3% GORR. Softrock cut
back its interest from 90% for a cash payment. The lease is a 160
acre Crown parcel on which some legal work remains to clear
title.
- POTASH Softrock still holds 100% working interest in
approximately 40,000 ac of Crown prospecting Permits in
Alberta which has finally had some
interest expressed by some companies because of the rising markets
for potash
SOURCE Softrock Minerals Ltd.
Copyright 2015 Canada NewsWire
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