ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

FEN Forent Energy Ltd.

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
Forent Energy Ltd. TSXV:FEN 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 -

Forent Provides Operational Updates

15/04/2014 2:00pm

Marketwired Canada


Forent Energy Ltd. ("Forent" or the "Company") (TSX VENTURE:FEN) is pleased to
give an update on current operations. 


Montgomery, Alberta 

At Montgomery, the exploration well "Forent et al DD14-12-029-12W4", was spud on
February 17, 2014 and was successfully drilled to the base of the Second White
Speckled Shale Formation (2WS). The 2WS was encountered at the expected depth
based on Forent's proprietary 3D seismic survey and was cased from surface to
the top of the 2WS with a slotted liner placed over the entire 2WS formation.
Due to up-hole well complications while drilling, the wellbore was not drilled
to a depth sufficient to penetrate the Lower Mannville formation.  


A completion rig was mobilized to the site and an acid job was conducted over
the 2WS interval in an attempt to remove the drilling mud damage from the
wellbore. No inflow was noted and pressure recorders were run in the well to
measure the bottom-hole pressure build up. It is anticipated that the well will
remain shut in for a number of weeks, when the recorders will be pulled and
analyzed for future stimulation potential. 


Under the provisions of the Montgomery farm-out agreement, Forent's joint
venture partner funded the cost to drill and complete the vertical test well, to
earn a 70% interest in all PNG rights to the base of the deepest formation
penetrated in four sections of land, while Forent will retain a 30% interest.


Twining, Alberta 

Forent has obtained regulatory approval for the drilling of the first three
infill development wells in the Twining field. These wells are scheduled to be
drilled immediately after spring break up once county road weight restrictions
have been removed. The wells will be tied into existing operated facilities
increasing base production levels while reducing field operating costs per bbl.
Forent has additional drilling locations within held lands at Twining which will
be drilled based on the success of the initial program.


Alton, Nova Scotia 

As of April 2014 the Alton exploration license 03-02-03-01-R is available for
renewal but Forent Energy has decided not to pursue an extension on the block at
this time. In light of our capital requirements on our newly acquired producing
assets, and potential refinements to the current regulatory environment in Nova
Scotia, Forent has determined that it is not prudent to commit capital to the
Alton block at this time. Forent will re-assess its position in Nova Scotia at a
future date.


ADVISORY: Certain information in this news release, including the operations at
the Company's, Twining and Montgomery properties, constitute forward-looking
statements under applicable securities laws. Although Forent believes that the
expectations reflected in these forward looking statements are reasonable, undue
reliance should not be placed on them because Forent can give no assurance that
they will prove to be correct. Since forward looking statements address future
events and conditions, by their very nature they involve inherent risks and
uncertainties. The forward-looking statements contained in this news release are
made as at the date of this news release and the Corporation 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 may be required by applicable securities laws. 


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Forent Energy Ltd.
Richard Wade
President & CEO
(403) 262-9444 #211
rwade@forentenergy.com


Forent Energy Ltd.
Brad R. Perry
CFO
(403) 262-9444 #208
bperry@forentenergy.com
www.forentenergy.com

1 Year Forent Energy Ltd. Chart

1 Year Forent Energy Ltd. Chart

1 Month Forent Energy Ltd. Chart

1 Month Forent Energy Ltd. Chart