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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 - Encounters 48 Feet of Pay on Davenport Project

05/06/2013 3:20pm

Marketwired Canada


Archer Petroleum Corp (TSX VENTURE:ARK)(OTCQX:APEUF)(DBFrankfurt:A6VA) ("Archer"
or the "Company") is pleased to announce the following results of a recent core
drilling test on its 100% owned Davenport project in Logan County, Kentucky,
USA: The test was completed by American Engineers, Inc., using a truck mounted
coring rig with a 2 inch barrel. The test encountered approximately 48 feet of
heavy oil/bitumen saturated sandstone in the Big Clifty formation. Two distinct
seams of oil saturated sandstone were observed, both showing significant
bleeding of oil from the core sections & petroleum odors. The hole was drilled
to a total depth of 86 feet with overburden and inter-burden measuring
approximately 36 feet yielding a ratio of 0.75 feet of overburden/inter-burden
per foot of oil sand pay. 


VP of Operations, Aaron Wilson, states: "We are very impressed with the results
of the recent test of the Davenport project and believe it provides further
evidence of the prospective nature of the project area for heavy oil/bitumen
extraction utilizing the proprietary technology the Company has secured access
to. Further testing will be performed to determine oil saturation levels of the
core taken in due course".


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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