PHOENIX, Jan. 27 /PRNewswire-FirstCall/ -- Golden Apple Oil and Gas, Inc (OTC Pink Sheets: GAPJ.pk) is pleased to release the highlights of the report produced by Dr. W. D. Groves, P. Eng.
The Cookshire gas exploration property of Lumincos Corp. of Calgary is in an active oil & gas exploration area in the SE Saint Lawrence Lowlands basin, located in the Sherbrooke area in Southern Quebec. Talisman energy has some 20-40 MMCFD producer gas wells in New York State along trend to the SW in Northern NY state, in deep 1/2 graben step downs in the S edge of the Saint Lawrence Lowlands block. The Joint-Venture (Talisman & Questerre) property along the N. Fringe of the basin, holds land just on the North edge of the allochthonous zone, in the stacked thrust sheets of the Appalachian Over thrust Zone, in which the St, Flavien gas field (now pumped out) is located. The Sherbrooke area lies further out (i.e. in the SE direction) into the allochthonous zone (zone 3, of the University of Laval compilation of the cross section of the St Lawrence Lowlands Basin). The Cookshire property is aligned (northeastward) along the 1/2 graben structure trend being drilled for deep gas by Talisman Energy ltd. in New York State. The Sherbrooke area thus has both shallow gas potential, at 5000 to 6000 foot depth in the Appalachian Thrust Sheet Stack, plus deep gas potential in the deeper 1/2 graben structures lying below these in the 1/2 graben step downs in the underlying Quebec Lowlands plate. After the recent (Dec.2005) Oil/Gas conference on the St Lawrence Lowlands held in Montreal, a joint venture consisting of Questerre, Junex and Ditem (all 3 already players in the region) staked an additional 5 million acre parcel of land in a strip SE- adjacent to the existing Questerre- Talisman holdings.
The gas potential of The Saint Lawrence Lowland shale gas reservoirs is thus becoming a highly viable exploration bet, with Talisman's deep graben gas Southwest along basin trend across the border in NY state, and the small (now depleted) Saint Flavien gas field, just SW of Quebec, City serving as indications of the Basin's potential.
The 17,976 hectare Cookshire gas prospect is located approximately 20 miles SE of Sherbrooke, Quebec (50 miles SE of Montreal), in zone 3 (the allochtonous zone of the Saint Lawrence Lowlands Basin) and about 50 miles north of the US border (Maine).
The Cookshire property is rectangular, nearly square, N/S by E/W, of 17,976 hectares, (about 34,352 acres or 53.58 square miles).
Based on the geochemical and geophysical surveys so far conducted on the Cookshire property, these positive results warrant further studies i.e.: narrow spacing (50 feet) micro-gravimetry, seismic survey & test hole. It is believed that based on the previous results on the property; there is a very high probability of commercial gas production.
Golden Apple Oil and Gas, Inc entered into a stock purchase agreement with Lumincos (announce previously), whereby Lumincos purchased 50% of the stock in Golden Apple Oil and Gas, Inc. using the Cookshire property permit as payment for the stock.
Headquartered in Phoenix, Arizona, Golden Apple is an independent oil and gas producer with a focus on North and South American properties. The Company applies advanced technologies to systematically explore and develop its oil and natural gas opportunities. Golden Apple focuses its activities where technology can be used effectively to maximize returns on invested capital by reducing drilling risk and enhancing its ability to cost- effectively grow reserves and production volumes.
This media release may contain forward-looking statements regarding, but not limited to, management, market potential, distributor success, market size, international sales, marketing, future events and performance of the Company which involve risks and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this media release.
