CALGARY, Alberta, Sept. 28, 2017 (GLOBE NEWSWIRE) — Traverse Energy Ltd. (the “Corporation”) (TSX Venture:TVL) is pleased to announce a new prospect area. The Company has accumulated 51,920 net acres (81 sections) of 100% land prospective for light oil in the Duvernay shale basin in central Alberta.
Traverse expects to drill its first evaluation well early in the fourth quarter of 2017 in the Chigwell area. The 4,500 meter horizontal well is currently being licensed and a drilling rig has been secured. Traverse holds 21,120 net acres (33 sections) of crown and freehold lands in the Chigwell area.
Additional information on the Duvernay shale basin area can be found in our corporate presentation on our website at www.traverseenergy.com
The Corporation is a junior oil and natural gas exploration and development company. The common shares of the Corporation are currently listed on the TSX Venture Exchange under the trading symbol “TVL”.