- Published: 22 September 2010
- Written by Editor
Covenant Resources Ltd. Completes Permitting For First Two Wells in Montana
Covenant Resources Ltd. (CVA - CNSX), Mr. Frank Port, President and CEO of Covenant Resources Ltd. (the "Company" or "Covenant") wishes to announce that the operator (Robinson Oil Company, LLC) of the 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 1950 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 2D and 3D 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 C.E.O. We will continue to seek opportunity to increase our footprint within the Williston Basin in Montana, North Dakota and Saskatchewan.
The Company is a junior natural resource exploration company focused on the acquisition, exploration, and development of economically viable natural resources. The Company currently owns 41,500 net acres of oil and gas leases in "The Sweetgrass Arch" Prospect located in the Toole and Pondera Counties, Montana. The Sweetgrass Arch prospect has significant gas potential as well as Bakken oil potential. The Company continues to seek additional oil and gas properties.
The Company Trades on the CNSX under the trading symbol "CVA".
The CNSX does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please refer to the Company's prospectus and engineering report available on SEDAR (www.sedar.com).
For further information contact:
Frank Port
President, Chief Executive Officer, and Director
Tel: 604-805-9999
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.covenantresources.com