Vancouver, BC / ACCESSWIRE / September 24, 2014 / Strongbow Resources Inc. (OTCQB: STBR) (the "Company") is pleased to announce that it has completed its development plan for its Compeer Alberta property, which it owns 100 percent working interest of 8 sections (5120 acres). Based on the development plan, a minimal of four wells per section (including its production well) will total 31 horizontal wells to be drilled into the Viking formation. With further review, Strongbow's technical and operating team will determine if it's feasible to drill more within a reasonable spacing.
Strongbow will drill its first five wells in various sections to help determine the reserves in place. The company anticipates that the 31 well project could take about 8 to 10 months to drill complete from its first start date. "We have seen an increase and positive activity coming from other companies who are within a 2 to 5 mile radius of our Compeer lands. This excites and motivates us to do what's necessary in order to commence our drilling program in the quickest way possible," stated Michael Caetano, President and CEO.
Strongbow is also in the process of growing its asset portfolio by evaluating other opportunities in Canada and internationally. We will keep the shareholders informed of these opportunities and drill dates once we finalize the company financing and schedules of services.
On behalf of Strongbow Resources Inc.
Michael Caetano
President and Chief Executive Officer
Strongbow Resources Inc.
1.403.241.8912
[email protected]
About Strongbow Resources Inc.
Strongbow Resources Inc. is a publicly listed, junior oil and gas company with oil and gas properties located in Western Canada. Strongbow is engaged in the business of seeking out, evaluating and acquiring working interests in oil and gas projects, domestically and internationally, which it plans to enhance through its management, technical and operational team. Strongbow operates as Big Lake Energy Ltd. in Alberta and as Strongbow Resources Inc. in Saskatchewan. The Company's common shares trade on the OTCQB US Exchange under the symbol STBR.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"), including statements of any potential investment by the Investor and future acquisition by the Company. All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include satisfactory due diligence by the Investor, general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which the Company has little or no control. Unless required by applicable law, the Company does not intend to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the Company's recent filings with the SEC.
SOURCE: Strongbow Resources Inc.