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CCR

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Share Name Share Symbol Market Type
TSXV:CCR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Cascadia Appoints President & Drills Farm in Wells

05/12/2011 10:29pm

Marketwired Canada


Cascadia Resources Inc. ("Cascadia" or the "Company") (TSX VENTURE:CCR) is
pleased to announce the appointment of Michael d'Entremont, P.Eng. as President
of the Company effective immediately. Mr. d'Entremont has over 34 years of
diversified experience in the Canadian and International Oil and Gas business
with Amoco and Canadian Hunter. Mr. d'Entremont was also President and CEO of
Livingston Energy, a Calgary based private junior oil and gas company with
assets in North East BC. Most recently, Mr. d'Entremont was an associate at
Charlton Capital Corporation providing technical and investment advice on small
and medium capitalized oil and gas companies to institutional and private
clients. Cascadia has granted Mr. d'Entremont options to purchase 300,000 common
shares at an exercise price of $0.11 (Cdn funds) per share, pursuant to its
stock option plan.


The Company also announces it has granted options to purchase an additional
125,000 common shares at a price of $0.11 per share, pursuant to its stock
option plan to consultants, director, and officer of Cascadia. The options will
vest immediately, and are exercisable on or before December 5, 2016.


Cascadia also announces that it has completed drilling two wells related to
previously announced farmin agreements (see Press Release dated September 6th,
2011). The Company drilled and cored a Birdbear formation in West Central
Saskatchewan and has earned a 70% working interest ("W.I.") in one section and
50% W.I. in two additional sections. Preliminary results of core analysis are
currently being reviewed by the Company. In the Edson area, Cascadia has drilled
and cased a vertical test well to the Rock Creek formation with initial open
hole log analysis suggesting several pay zones exist in the well bore. Plans are
underway to complete the well and if successful the well is expected to be
placed on stream early in the new year. The Company will earn a 50% W.I. in one
and one-half sections upon completion of the well.


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