Vancouver, BC / ACCESSWIRE / September 17, 2014 / CARDIFF ENERGY CORP. (the "Company") (TSX-V: "CRS") through its wholly owned subsidiary, Cardiff Energy (USA) Inc. with its Joint Venture Partner, Martin Energy LLC, is pleased to announce the drilling progress of the Bearcat #4 well in Ballinger, Texas.
The well reached total depth on September 16, 2014. The logs indicate hydrocarbon presence in the following formations; Palo Pinto Limestone, Jennings Sand, and Gardiner Limestone.
Production testing of the Gardiner Lime, the primary zone, will be completed and results announced within the next two weeks.
In addition, the Company has entered into a Letter of Intent Agreement with Martin Energy LLC to drill an additional ten wells that will test the Gardiner zone in the immediate proximity of the Bearcat #4.
A three well program will be initiated as phase one of the Letter of Intent. This three well program is planned to be completed within the next 120 days.
Jack Bal, President of the Company states "We are very happy with the drilling and results of the logging of the Bearcat #4 well. We have the opportunity to develop wells in an area of proven oil and gas production with each well having multi-zone potential."
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
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.
SOURCE: CARDIFF ENERGY CORP.