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:Copper Creek to conduct frac program on two wells 2007-11-14 16:42 ET - News Release Mr. Bing Jung reports
FRAC PROGRAM APPROVED
Copper Creek Ventures Ltd. has been advised by the operator, Alogo Energy Inc., that cores from the 7-34 and 3-32-3-14W4th wells have been analyzed by Core Lab, out of Calgary, Alta., and BJ Services, out of Houston, Tex. A frac program has been designed by Well Engineering Inc., out of Calgary, Alta., and has been approved by the operator and the company. The 7-34 well has three zones between 425 metres and 482.5 metres, which will be perforated and fraced. The 3-32 well has five zones between 424 metres and 488.5 metres, which will be perforated and fraced. The operator has obtained all the necessary licences and permits. This operation will commence shortly.
Upon completion of the two well commitments, the company and Alogo will each have a 50-per-cent interest in the six sections. Also under the terms of the agreement, the company will receive a 75-per-cent interest in any revenue generated from the sections upon which the initial wells are to be drilled, until payout, at which time the company's interest will revert to 50 per cent. After the completion of the first two wells, Alogo Energy and Copper Creek Ventures will finance, on a 50/50 basis, any additional wells as determined by both companies.
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