VANCOUVER, Oct. 24 /PRNewswire-FirstCall/ -- Norwood Resources is pleased to announce that Multiservicios de Perforacion Geopetroleros S.A. Rig #15 has completed modifications, inspections and is in transport to Nicaragua to begin the company's initial drilling program.
Norwood has also completed negotiations and signed multi-well service contracts required for the company's initial drilling program. These services will be provided as follows:
Electric Logging Services: Baker Atlas, Houston Texas
Rock Bits: Smith Bits, Houston Texas
Well Head: Vetco Gray Inc., Houston Texas
Well Testing: Expro Gulf Ltd., Houston Texas
Directional Services: Western Energy Services Corp.
Calgary Alberta
Cementing Services: BJ Services de Nicaragua
Managua Nicaragua
Mud / Engineering Services: MI Drilling Fluids de Mexico
Villahermosa Mexico
Mud Logging: International Logging, Inc
Houston Texas
Construction: D'Guerreros Ingenieros, S.A.
Managua Nicaragua
Geological supervision will be provided by Norwood personnel and electric logging supervision and evaluation will be provided by Fronterra Geosciences of Houston Texas.
The first location, San Bartolo Rodriguez Cano #1, is currently under construction and will be ready when the rig arrives in approximately 15 days. The second location, Las Mesas Gutierrez Mendez # 1 is also under construction.
The initial locations have been designed to test separate structural closures within the Tertiary sediments of the middle Masachapa and upper and middle Brito formation. Norwood has identified many other potential targets in the upper Oligiocene Masachapa formation and in the deeper Cretaceous Rivas formation but has determined that these initial locations offer the most cost effective opportunity for early discovery of a significant size.
Photographs of the construction at the San Bartolo Rodriguez Cano #1 location can be viewed at http://www.norwoodresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS OF
NORWOOD RESOURCES LTD.
"Raymond Cahill"
Raymond Cahill
President & CEO
WE SEEK SAFE HARBOUR
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ACCURACY OR ADEQUACY OF THIS RELEASE
CONTACT: To find out more about Norwood Resources Ltd. (NRS) contact: Raymond Cahill, President, E-Mail:
