County Line Energy Corp seeks out heavy oil play

TRADING SYMBOL CYLC OTC PINK SHEETS 


CALGARY, June 29  /PRNewswire-FirstCall/ -- County Line Energy Corp is pleased to announce the signing of a letter of intent with Black Creek Resources of Calgary, Alberta to participate in the Hayter heavy oil project in east central Alberta, Canada.

The company will earn a lease from Black Creek by committing to certain undertakings on the property.

Although all of the details have not been finalized the company has agreed to conduct a 3D seismic program over the property followed by an initial Test well which will be located based on the appropriate seismic interpretation.

Black Creek (Farmor) will have certain rights of reversion as the project progresses. The final terms will be determined over the next two weeks.

County Line Energy will begin the program immediately upon signing the final agreement. The cost for the initial seismic, and the test well drilling is anticipated to be in the order of $650,000. It is further anticipated that additional wells (up to 20) could be drilled on the property depending on the final evaluation of the seismic and the results of the initial test well.

The interest in the Hayter heavy oil prospect is based on well bore information from a well that previously produced 60,000 barrels of heavy oil, coupled with old 2D seismic information that indicates a significant oil bearing structure.

Geological estimates of property potential based on eventual confirmation of the suspected pay zone are as high as 60,000 million barrels of oil in place with a potential recovery rate of 4% without additional down hole stimulation.

Safe Harbour,

County Line Energy Corp subscribes to the provisions, statutes and conditions as set out by the Safe Harbour Act.

CONTACT      Harry Bygdnes, Pres. C.E.O.     [phone] 

DATASOURCE: County Line Energy Corp.



CONTACT: Harry Bygdnes, Pres. C.E.O., [phone]

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