This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Cinch Energy delays spudding of Dawson 6-30 well 2009-08-13 17:24 ET - News Release Mr. John Elick reports CINCH ENERGY CORP. UPDATES TIMING OF DAWSON 6-30 WABAMUN WELL AND ANNOUNCES
FLOW-THROUGH SHARE PRIVATE PLACEMENT
Cinch Energy Corp. has amended the timing of the drilling of the Dawson 6-30 Wabamun test, which was expected to spud in the first week of August, as stated in the company's 2009 second quarter press release in Stockwatch on Aug. 6, 2009. The drilling rig has been moved to the Dawson 6-30 location but spudding of the well will be delayed until Sept. 1, 2009. On Aug. 6, 2009, the Province of British Columbia announced additional oil and gas incentives effective Sept. 1, 2009, which could impact the potential economic returns generated by the Dawson 6-30 well. These new incentives are dependent on numerous factors such as flow rates and natural gas prices and could potentially be significant to the company. After taking into consideration these incentives, the company determined that it was prudent to delay the spudding of the subject well. The company appreciates the progressive approach of the British Columbia government toward the oil and gas industry in this period of low commodity natural gas prices. The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try,
click here for a free 30 day trial subscription. |
Top
Print this Page