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ARK Arras Minerals Corp

0.30
-0.005 (-1.64%)
21 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Arras Minerals Corp TSXV:ARK TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.005 -1.64% 0.30 0.295 0.305 0.305 0.30 0.305 7,320 18:59:09

Archer Petroleum Corp.-Announces Winning Bid for 918 Acre Bituminous/Asphaltic Sands Lease

03/05/2013 7:41pm

Marketwired Canada


Archer Petroleum Corp (TSX VENTURE:ARK)(OTCQX:APEUF)(DBFrankfurt:A6VA) ("Archer"
or the "Company") is pleased to announce that the Company has placed a winning
bid with the School and Institutional Trust Lands of Utah for a
bituminous/asphaltic sands lease comprising 918.95 acres in Sunnyside Tar Sands
play in Carbon County, Utah. The Sunnyside Tar Sand deposit is believed to be
one of the largest single deposits of bituminous/asphaltic oil sands in the
United States and has been the subject of extensive exploratory analysis of the
heavy oil/bitumen by various E&P companies in the past (Source: U.S. Department
of the Interior Bureau of Mines, "Surface and Shallow Oil Impregnated Rocks and
Shallow Oil Fields in the United States", 1965). Closing of the acquisition of
this lease is subject to the formal execution of lease documents as provided by
School and Institutional Trust Lands of Utah and is expected to happen in the
coming weeks.


About Archer Petroleum:

Archer Petroleum Corp. is an independent energy company focused on exploration
and development in North America. The Company's shares are listed on the TSX
Venture Exchange under the symbol "ARK" and the DB Frankfurt exchange under
"A6VA". Further information on Archer can be found on the company's website at
www.ArcherPetroleum.com.


ON BEHALF OF ARCHER PETROLEUM CORP.

Colin Bowkett, Director

Disclaimers

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" occur.
Forward-looking information in this press release includes, but is not limited
to, statements regarding expectations of management regarding the acquisition of
the Sunnyside Tar Sands bituminous/asphaltic sands lease, the size of this
deposit relative to others in the United States, and the expected timing for
execution of formal lease documents. Although the Company believes that the
expectations reflected in the forward-looking information are reasonable, there
can be no assurance that such expectations will prove to be correct. Such
forward-looking statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially from those
contained in the statements including, without limitation, the risks that the
parties may not enter into a definitive agreement, that the TSX Venture Exchange
may not approve the transaction and that the conditions to closing of the
transaction may not be satisfied. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Archer Petroleum Corp.
Colin Bowkett
(604) 683-7588
(604) 683-7589 (FAX)
info@archerpetroleum.com
www.archerpetroleum.com

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