CALGARY, ALBERTA–(Marketwired – Dec. 22, 2016) – Relentless Resources Ltd. (“Relentless” or the “Company“) (TSX VENTURE:RRL) announces that both the 02/5-7-27-9 W4 and the 6-12-27-10 W4 development wells have been drilled and cased for Glauconite oil. The Company anticipates completing the 02/5-7 well with multi-stage fracture stimulations and the 6-12 well with a single fracture stimulation. The wells will be completed and equipped subsequent to an additional financing by the Company.
Relentless is also pleased to provide an update on the private placement announced on December 8, 2016 (the “Private Placement“). The Private Placement is fully subscribed and committed. Closing of the Private Placement is expected to occur in early January 2017.
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’s common shares trade on the TSX Venture Exchange under the symbol RRL.
Relentless’s primary corporate objective is to achieve non-dilutive growth and enhance shareholder value through internal prospect development, strategic production acquisitions and prudent financial management.