|By Marketwired .||
|June 20, 2014 08:41 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/20/14 -- Westbridge Energy Corporation (TSX VENTURE:WEB)(PINKSHEETS:WEGYF)(FRANKFURT:PUQ1) ("Westbridge" or the "Company") and Black Pearl Holdings, LLC ("Black Pearl") are pleased to announce the Wharton County #3 ("WC#3") well has been spud as outlined in the Company's press release dated June 4, 2014. It is anticipated the target depth of 10,000-feet will be reached in approximately 14 days.
The WC#3 well will target the Lower Frio section stratigraphically trapped against the Boling Salt Dome. Westbridge and Black Pearl anticipate a large portion of the 50 foot section of reservoir sand will be saturated with light oil. This expectation is based on an initial production rate of 236 barrels of oil per day from the Wharton County #1 well on an 8/64ths choke before the well watered out due to mechanical problems associated with the completion. The project is located approximately 50 miles southwest of Houston, Texas and contains all the necessary infrastructure required to monetize both the oil and gas. In addition to the WC#3 well, the Wharton County Field potentially has 5 to 6 follow-up drilling locations.
For additional information readers are invited to review additional corporate and property information available at Westbridge's website at:
On behalf of Westbridge Energy Corporation,
Tosan Omatsola, President and Chief Executive Officer
Darren Collins, Vice President, Business Development
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward looking information" within the meaning of the British Columbia Securities Act, the Alberta Securities Act and the Ontario Securities Act. Generally, the words "expect", "intend", "estimate", "will" and similar expressions identify forward-looking information. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward looking information. Statements in this press release regarding Westbridge's business or proposed business, which are not historical facts, are forward-looking information that involve risks and uncertainties, such as estimates and statements that describe Westbridge's future plans, objectives or goals, including words to the effect that Westbridge or management expects a stated condition or result to occur. Since forward-looking statements address events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's oil and gas properties. The foregoing commentary is based on the beliefs, expectations and opinions of management on the date the statements are made. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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