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Article: Primary Petroleum Corporation: Eight Well Drilling Program Commenced on the Teton Prospect in Montana
- Article from:
- CCNMatthews Newswire
- Article date:
- January 21, 2008
CopyrightCopyright 2008 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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CALGARY, ALBERTA--(Marketwire - Jan. 21, 2008) - Primary
Petroleum Corporation (TSX VENTURE:PIE)(PINK SHEETS:PETEF)
("Primary" or the "Company") is pleased to announce that the
drilling program on its Teton Prospect in Montana commenced on
Friday January 18, 2008.
The key targets for the Teton wells are the Madison oil and
Sunburst gas formations. The estimated total depth for the wells is
approximately 3500 feet (1067 meters) and the Company anticipates
that the drilling program should be complete in approximately three
(3) months. The royalty rate on Primary's Teton lands is 12.5% and
the prospect covers some 97,400 net acres (152 sections) offsetting
the Gypsy Basin field which has ...