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Enter Symbol
or Name
USA
CA



Cardiff Energy Corp
Symbol CRS
Shares Issued 47,935,951
Close 2015-07-31 C$ 0.145
Market Cap C$ 6,950,713
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ORIGINAL: Cardiff Energy Corp. Acquires 700 Acre Lease in Runnels County and Signs Significant AMI Agreement

2015-08-04 09:39 ET - News Release

(via Thenewswire.ca)

Vancouver, BC / TheNewswire / CARDIFF ENERGY CORP. (the "Company") (TSX-V: "CRS", Frankfurt: "C2Z.F", US Pinksheets: "CRRDF")

is pleased to announce that it has signed a definitive agreement with Murphree Oil LLC.("Murphree") to acquire an additional 700 acre lease in Runnels County, Texas. The geological report on the new 700 acre parcel indicates there are multi-zone features with oil and gas development potential. The zones of interest include: Gardner Lime, Capps Lime, Palo Pinto Lime, Jennings Sand, and Dog Bend Lime. These zones are also present in the lease that the Company currently owns and where the Clayton # 1H is being drilled.

The Company now controls close to 1200 acres of land for drill ready exploration in Runnels County. The full development of the 1200 acres will include both horizontal and vertical drilling as well as re-entry to zones in existing well bores not previously produced. The geological study indicates there are more than 15-20 targets to be drilled to develop both properties to their full potential.

The Company is also pleased to announce that they have signed a significant 5 year AMI (Area of Mutual Interest) Agreement with Murphree for lands surrounding the 700 acre lease. This agreement allows the Company to have first right on any lands in the AMI to do its own geological study and if it fits the goals of the Company, purchase the lease (or leases) from Murphree.

Jack Bal, President states "with leases secured and a significant AMI Agreement in place for future development the Company is positioned for an exciting oil and gas drilling and production program."

To update shareholders on the status of the Clayton #1H, the drilling phase continues and the Clayton #1H will be completed in the Gardner Lime as a horizontal well. The Company's previous new release anticipated completion of the drilling of the Clayton #1H by now. However, due to complications during the drilling process the time line has been extended. Upon completion and testing of the Clayton #1H a flow rate will be reported.

To learn more about the Company and the drilling of the Clayton #1H horizontal well please visit:

http://www.cardiffenergy.com/i/pdf/Runnels-County-Texas.pdf

About the Company

Cardiff is an emerging junior oil and gas company engaged in the acquisition, exploration, development, and production of oil and gas properties. Cardiff is listed on the TSX Venture Exchange under the symbol CRS. For additional details please visit Cardiff's website at www.cardiffenergy.com

For additional information contact:

Jack Bal, President

Cardiff Energy Corp

604-306-5285

jackbalyvr@gmail.com



ON BEHALF OF THE BOARD OF DIRECTORS

"Lorne Torhjelm"

Lorne Torhjelm,

Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements relating to the future operations of the Company. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed from time to time in the filings made by the Company with securities regulations.


The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

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