VANCOUVER, June 21 /PRNewswire-FirstCall/ -- San Telmo Energy Ltd. (OTCBB: STUOF; TSX-V: STU) is pleased to announce that it will commence drilling the second well on its Teepee Creek land by July 1, 2004. The company has a 100% working interest in this well.
San Telmo's second well at Teepee Creek, called the 6-3 well, immediately offsets the gas discovery at the original 4-10 Teepee Creek well. As reported in a press release on January 21, 2004, the 4-10 well tested at a stabilized flow rate of 1.3mmcfd (217boe/d) on a 3/8" choke.
The 6-3 well is targeting a southeast extension of the productive Charlie Lake erosional edge, which was established in the original San Telmo 4-10 discovery.
Preproduction pipeline route planning has been completed on the 4-10 well in preparation for surveying and construction, which will begin after the results of the second well are known.
ABOUT SAN TELMO ENERGY LTD
San Telmo Energy Ltd. is an emerging oil and gas company with an experienced management team. Operated through its wholly owned subsidiary San Telmo Energy Inc. of Calgary, Alberta, San Telmo Energy Ltd. is focused on acquiring, developing and producing proven developed and underdeveloped reserves which offer long term value for the company.
FORWARD-LOOKING STATEMENT
This release may contain forward-looking statements, within the meaning of the "safe-harbour" provision of the Private Securities Litigation Reform Act of 1995, regarding San Telmo Energy's business or financial condition. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside of the control of the company.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
San Telmo Energy Ltd.
San Telmo's second well at Teepee Creek, called the 6-3 well, immediately offsets the gas discovery at the original 4-10 Teepee Creek well. As reported in a press release on January 21, 2004, the 4-10 well tested at a stabilized flow rate of 1.3mmcfd (217boe/d) on a 3/8" choke.
The 6-3 well is targeting a southeast extension of the productive Charlie Lake erosional edge, which was established in the original San Telmo 4-10 discovery.
Preproduction pipeline route planning has been completed on the 4-10 well in preparation for surveying and construction, which will begin after the results of the second well are known.
ABOUT SAN TELMO ENERGY LTD
San Telmo Energy Ltd. is an emerging oil and gas company with an experienced management team. Operated through its wholly owned subsidiary San Telmo Energy Inc. of Calgary, Alberta, San Telmo Energy Ltd. is focused on acquiring, developing and producing proven developed and underdeveloped reserves which offer long term value for the company.
FORWARD-LOOKING STATEMENT
This release may contain forward-looking statements, within the meaning of the "safe-harbour" provision of the Private Securities Litigation Reform Act of 1995, regarding San Telmo Energy's business or financial condition. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside of the control of the company.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
San Telmo Energy Ltd.
© 2004 PR Newswire
