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MES

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0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:MES 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 -

Marauder Resources East Coast Inc.: News Release

01/11/2012 1:09pm

Marketwired Canada


Marauder Resources East Coast Inc. (TSX VENTURE:MES) is pleased to announce that
its wholly owned subsidiary, Marauder Resources East Coast (NZ) Ltd., has been
awarded Petroleum Exploration Permit 53806 in the East Coast Basin of New
Zealand. Marauder will be the operator of the permit and a 50% working interest
holder, with the remaining 50% being transferred to an international oil and gas
exploration company based in Canada. The permit covers an area of 965 km2 and
has an initial term of 5 years. 


The East Coast Basin is considered highly prospective for large accumulations of
oil and gas with over 300 surface seeps present. The recent focus in the basin
has been on a potential light oil unconventional resource play within the
Paleocene to Cretaceous aged Whangai and Waipawa shales. These formations
exhibit characteristics similar to the productive Bakken Formation in
Saskatchewan and North Dakota. Offsetting permit holders in the basin, Tag Oil
and New Zealand Energy, have had third parties assign shale oil resource
potential of 12.6 and 20.9 Billion Barrels Original Oil In Place respectively.
Apache Corporation farmed in on Tag Oil's East Coast Basin permits in September
2011 and are expected to commence a 4 well exploration program in early 2013
targeting shale oil. 


The Whangai Formation is the primary unconventional target over PEP 53806. It is
naturally fractured and widespread throughout the East Coast Basin reaching
thicknesses of up to 600m. Three of the most prominent oil seeps in the basin
have been geochemically linked to generation in the Whangai Formation. The oil
is light, sweet crude with gravities of up to 50 degrees API.


Marauder will be commissioning a third party engineering group to prepare a
resource report and economic analysis to estimate the unconventional potential
over PEP 53806. A map showing the permit holders in the East Coast Basin is
attached, with Marauder's acreage highlighted in green. 


New Zealand remains highly underexplored with respect to hydrocarbon resources.
The world class potential combined with a stable geopolitical setting and
excellent fiscal terms, make New Zealand a core focus area for Marauder going
forward with additional opportunities being pursued.


To view the map associated with this release, click the following link:
http://media3.marketwire.com/docs/mar_map.pdf


This press release may contain forward-looking statements within the meaning of
applicable securities laws. Forward-looking statements may include estimates,
plans, anticipations, expectations, opinions, forecasts, projections, guidance
or other similar statements that are not statements of fact. Although the
Company believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations will
prove to be correct. These statements are subject to certain risks and
uncertainties and may be based on assumptions that could cause actual results to
differ materially from those anticipated or implied in the forward-looking
statements. These risks include, but are not limited to: the risks associated
with the oil and gas industry (e.g. operational risks in development,
exploration and production; delays or changes in plans with respect to
exploration or development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty of estimates and projections relating to
production, costs and expenses and health, safety and environmental risks),
commodity price and exchange rate fluctuation and uncertainties resulting from
potential delays or changes in plans with respect to exploration or development
projects or capital expenditures. The Company's forward-looking statements are
expressly qualified in their entirety by this cautionary statement. The
forward-looking statements contained in this press release are made as of the
date hereof and the Company undertakes no obligations to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Marauder Resources East Coast Inc.
Robert V. Shields
(403) 262.3907
rvs@marauder.ca


Marauder Resources East Coast Inc.
720, 440 - 2nd Avenue S.W.
Calgary, Alberta T2P 5E9

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