Welcome!

News Feed Item

Super Nova to Participate in Southern Alberta Bakken Play Well

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/24/14 -- Super Nova Petroleum Corp., (CSE: SNP)(PINKSHEETS: SNOVF) (the "Company" or "Super Nova" or "SNP") reports that an agreement has been reached with Augusta Exploration LLC ("Augusta") of Montana, for Super Nova to participate in a southern Alberta Bakken Play oil and gas test well.

Augusta is a Montana based oil and gas firm, owned by Summit Exploration LLC, led by Kory McGavin and North-Dakota Development LLC, led by Robert Gavin & Daniel Hogan.

The well is to be drilled on the same well site as the Krone Shell well drilled in 1962 in Section 32 of Township 18N Range 5W. Our observation is that the Krone Shell well logs have similar data to several Elm Coulee logs; these wells have produced commercially viable hydrocarbons.

The Company will earn a 20% working interest in this well by issuing 7,000,000 common shares and 5,000,000 warrants exercisable at $0.10/share for the first year and $0.15/share for the second year. The common shares and warrants will be escrowed and turned over once the well has been drilled and the Bakken formation has been logged and cored. 50% will go to Summit Exploration LLC and the remaining 50% will go to North-Dakota Development LLC.

This well will be drilled, financed and operated by Augusta Exploration LLC. The Krone Shell well is located in Lewis & Clark County in Northwest Montana on the Bakken Fairway, approximately 3 miles Southwest of the Company's 12,000 acre farm-in lands and 100% owned Milford -East lands. The well will be logged and cored to test the Bakken formation expected at 7,000 ft. vertical and the shallow Eagle/Virgelle formation will be tested for natural gas expected to be at 1,400-3,000 ft. of vertical depth. Augusta Exploration will apply for all required approvals from Montana Board of Oil and Gas, along with the bonding requirements immediately post regulatory approvals.

In the event commercial Hydrocarbons are encountered in this well, confidence of discovery of commercial hydrocarbons on the nearby company's land position will increase significantly. Kory McGavin, CEO of Summit Exploration LLC, and Marcus Miller, COO of Summit Exploration and Co-Manager of Augusta Exploration, have expressed their enthusiasm of combining the talent of our companies for this joint venture.

Southern Alberta Bakken Play and Krone Shell Well:

The Bakken oil boom began with Elm Coulee oilfield on the Eastern side of Montana in 2000, when Lyco Energy Resources re-entered nine old wells and completed them in the Bakken formation. In 2006, the Parshall oilfield in North Dakota was discovered by observing an old well log in that area that had Bakken formation which looked very similar to the Elm Coulee logs. North Dakota has since produced 813 MM barrels of oil from the Bakken formation through December of 2013.

The emerging Alberta Bakken play extends from Canada down through the Western side of Montana to where the company has its leased lands. The prolific Williston Basin Bakken play was the Eastern side of a shallow sea. The currently emerging Alberta Basin Bakken play was the Western side of that same sea.

The Shell Krone well was drilled in 1962, before the so called Shale Revolution of the last decade. Thus, while encountered and logged in 1962 by Shell, the Bakken formation was simply ignored then, despite cuttings of the rock showing oil. With the application of modern drilling and completion techniques, the upcoming well may prove the viability of the Southern portion of the Alberta Bakken play.

A few key attributes of the Krone Shell Well:

--  The Bakken is relatively shallow here. In the Krone well, the Bakken is
    at 6,896 feet as compared to 9000 - 11,000 feet in the Williston Basin
    which we expect will translate to less expensive wells.
--  In the Krone Shell well, 70 feet of Bakken formation was encountered
    with a well-developed middle member Sappington Formation that was 30
    feet thick. These benchmarks compare favorably with the Williston Basin,
    where viable Bakken wells can have thickness in the range of 40 to 50
    feet and middle member thickness of 10 to 15 feet.
--  Resistivity of 400 ohms observed in the Krone Shell well indicates
    hydrocarbons. The Krone well is located in the prime thermal maturity
    zone, where Vitrinite Reflectance (Ro) is between 0.7% and 1.5%. This is
    where oil generation in the Bakken is at its highest level.
--  The well site and surrounding acreage is largely gentle rolling hills
    and farmlands, easily accessible and serviced by highways.
--  Northwest Energy gas pipeline is located approximately 10 miles to the
    Northwest from the Krone Shell Well, traversing Super Nova Milford East
    acreage. This nearby natural gas infrastructure is of utmost importance
    in the event that commercial gas is discovered.

Hydro carbons may not be discovered and if present they may not be commercially viable.

On behalf of the Board of Directors:

SUPER NOVA PETROLEUM CORP.

Wolf Wiese, CEO

THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NEITHER CSE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE COMPANY'S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.

Contacts:
Super Nova Petroleum Corp.,
Mike Poulin
Corporate Communications
604-221-8936
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.