Hi,
If anyone would like a copy of my Toronto Resource show recap with tidbits I picked up from several companies, please email me at stateside@statesidereport.com and I will send it out by Sunday night. If you are already on my email list, no need to send another request.
Vince
Monday, September 27, 2010
Wednesday, September 22, 2010
Covenant receives permits for Sweetgrass Arch wells
Covenant receives permits for Sweetgrass Arch wells
2010-09-22 12:13 ET - News Release
Mr. Frank Port reports
COVENANT RESOURCES LTD. COMPLETES PERMITTING FOR FIRST TWO WELLS IN MONTANA
The operator (Robinson Oil Company LLC) of Covenant Resources Ltd.'s 41,500-net-acre Sweetgrass Arch prospect located in Montana, has completed permitting of the first two wells to be drilled in this project, the Kinyon 14-2 and the Hellinger 15-2.
These wells will be drilled to total depth of 1,950 feet and are targeting oil accumulations in the Madison group as well as the underlying Bakken formation in Toole county, Montana. This will be the start of the exploration that Covenant undertakes on its recently acquired Alberta basin properties in Montana (Sweetgrass Arch).
These initial prospects were generated by utilizing proprietary 2-D and 3-D seismic data in conjunction with comprehensive geologic interpretation of well control data in the area. These two wells will test a prominent structural closure on top of the Rierdon, along with other prospective multiple pay zones. This will be the start of the exploration that Covenant undertakes on these recently acquired Alberta basin properties in Montana.
"This is our first entry into Montana, there is a significant opportunity for growth within this basin both through land acquisition and at the bit," said Frank Port, Covenant chairman, president and chief executive officer. "We will continue to seek opportunity to increase our footprint within the Williston basin in Montana, North Dakota and Saskatchewan."
2010-09-22 12:13 ET - News Release
Mr. Frank Port reports
COVENANT RESOURCES LTD. COMPLETES PERMITTING FOR FIRST TWO WELLS IN MONTANA
The operator (Robinson Oil Company LLC) of Covenant Resources Ltd.'s 41,500-net-acre Sweetgrass Arch prospect located in Montana, has completed permitting of the first two wells to be drilled in this project, the Kinyon 14-2 and the Hellinger 15-2.
These wells will be drilled to total depth of 1,950 feet and are targeting oil accumulations in the Madison group as well as the underlying Bakken formation in Toole county, Montana. This will be the start of the exploration that Covenant undertakes on its recently acquired Alberta basin properties in Montana (Sweetgrass Arch).
These initial prospects were generated by utilizing proprietary 2-D and 3-D seismic data in conjunction with comprehensive geologic interpretation of well control data in the area. These two wells will test a prominent structural closure on top of the Rierdon, along with other prospective multiple pay zones. This will be the start of the exploration that Covenant undertakes on these recently acquired Alberta basin properties in Montana.
"This is our first entry into Montana, there is a significant opportunity for growth within this basin both through land acquisition and at the bit," said Frank Port, Covenant chairman, president and chief executive officer. "We will continue to seek opportunity to increase our footprint within the Williston basin in Montana, North Dakota and Saskatchewan."
Wednesday, September 8, 2010
COVENANT RESOURCES SIGNS DEFINITIVE AGREEMENT FOR ACQUISITION OF 41,500 ACRES IN THE ALBERTA BASIN, MONTANA
Covenant signs definitive deal for Montana leases
2010-09-08 13:31 ET - News Release
Mr. Frank Port reports
COVENANT RESOURCES SIGNS DEFINITIVE AGREEMENT FOR ACQUISITION OF 41,500 ACRES IN THE ALBERTA BASIN, MONTANA
Covenant Resources Ltd. wishes to announce the signing of a Definitive Agreement with Damont Energy Inc. ("Damont") for the acquisition of oil and gas leases in Montana.
Pursuant to the Letter of Intent announced on August 11, 2010, the Definitive Agreement has been executed by the parties for Covenant to acquire Damont's right, title and interest in 41,500 net acres of oil and gas leases in "The SweetGrass Arch" Prospect located in Toole and Pondera Counties, Montana. The SweetGrass Arch (Alberta Basin) prospect has significant gas potential as well as Bakken oil potential.
The cost of the acquisition is $3,822,222 through the issuance of 19,111,110 shares of Covenant at a deemed price of $0.20 per share. A finder's fee of $228,000 is to be paid by Covenant via the issue of 1,140,000 shares of the Company to ABC Capital Holdings Ltd. for identifying this property. All the shares will be subject to a 3 year time release escrow, whereby 15% is to be released every 6 months. The effective date of the acquisition is August 01, 2010.
2010-09-08 13:31 ET - News Release
Mr. Frank Port reports
COVENANT RESOURCES SIGNS DEFINITIVE AGREEMENT FOR ACQUISITION OF 41,500 ACRES IN THE ALBERTA BASIN, MONTANA
Covenant Resources Ltd. wishes to announce the signing of a Definitive Agreement with Damont Energy Inc. ("Damont") for the acquisition of oil and gas leases in Montana.
Pursuant to the Letter of Intent announced on August 11, 2010, the Definitive Agreement has been executed by the parties for Covenant to acquire Damont's right, title and interest in 41,500 net acres of oil and gas leases in "The SweetGrass Arch" Prospect located in Toole and Pondera Counties, Montana. The SweetGrass Arch (Alberta Basin) prospect has significant gas potential as well as Bakken oil potential.
The cost of the acquisition is $3,822,222 through the issuance of 19,111,110 shares of Covenant at a deemed price of $0.20 per share. A finder's fee of $228,000 is to be paid by Covenant via the issue of 1,140,000 shares of the Company to ABC Capital Holdings Ltd. for identifying this property. All the shares will be subject to a 3 year time release escrow, whereby 15% is to be released every 6 months. The effective date of the acquisition is August 01, 2010.
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