CALGARY, ALBERTA–(Marketwired – July 27, 2015) – Relentless Resources Ltd. (“Relentless” or “the Company”) (TSX VENTURE:RRL) is pleased to announce that the 16-6-27-9 W4M new pool wildcat well has been drilled and cased to 1070 meters total vertical depth. The well was drilled prior to the July 22, 2015 Crown land sale, where the offsetting section of petroleum and natural gas rights, Section 5-27-9 W4M, was acquired by Relentless at 100% working interest.
The 16-6-27-9 W4 well logs have encountered oil pay in both the Detrital and Glauconite formations. The Glauconite zone appears to be an extension of the Heathdale Upper Mannville J Pool, where Relentless has 3 producing horizontal and 3 producing vertical wells. This extension further validates the three dimensional seismic model which indicates that this pool extends over 5 sections of 100% Relentless operated working interest lands.
President Ron Peshke states:
“What was a single, low decline, Glauconite oil well 12 months ago, has now been expanded into a significant, low risk, medium gravity, oil pool. Relentless has identified, land captured, de-risked and developed this conventional oil pool providing Relentless shareholders with substantial medium gravity oil upside.”
About Relentless Resources Ltd.
Relentless is a Calgary based emerging oil and natural gas company engaged in the exploration, development, acquisition and production of natural gas and light gravity crude oil reserves in Alberta. Relentless’ common shares trade on the TSX Venture Exchange under the symbol RRL.
Relentless’ primary corporate objective is to achieve non-dilutive growth and enhance shareholder value through internal prospect development, strategic production acquisitions and prudent financial management.
Forward-Looking Statements: All statements, other than statements of historical fact, set forth in this news release, including without limitation, assumptions and statements regarding exploration and development results, and future plans, operations and objectives of the Company are forward-looking statements that involve substantial known and unknown risks and uncertainties. Some of these risks and uncertainties are beyond management’s control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks, industry competition, availability of qualified personnel and management, availability of materials, equipment and third party services, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
These assumptions and statements necessarily involve known and unknown risks and uncertainties inherent in the oil and gas industry such as geological, technical, drilling and processing problems and other risks and uncertainties. The Company does not undertake any obligation, except as required by applicable securities legislation, to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
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.
Relentless Resources Ltd.
Dan Wilson, CEO
(403) 532 – 4466 ext. 227
Mobile: (403) 874 – 9862
(587) 955-9668 (FAX)
info@relentless-resources.com
Relentless Resources Ltd.
Ron Peshke, President
(403) 532 – 4466 ext. 223
Mobile: (403) 852-3403
(587) 955-9668 (FAX)
info@relentless-resources.com
www.relentless-resources.com