Gold Coast Mining Confirms Working Interest in Tiger Development Oil Well Project
August 14 2013 - 6:00AM
Marketwired
Gold Coast Mining Corp. (OTC Pink: GDSM), today confirmed its
working interest, in conjunction with investor Bubblin Crude, LLC,
into the Tiger Development oil field project located in Kalkaska,
Michigan.
Under its agreement, the Company was able to secure its interest
through an existing large investor, Bubblin Crude LLC., with who
Gold Coast Mining Corp and its executives have had a long-standing
relationship, with Bubblin Crude, LLC covering the initial
investment cost. To date, the Company has closed a 2% working
interest in the project, with an agreement to increase its interest
to 5% in the coming weeks.
The operator and developer is Tiger Development LLC which is
drilling a 4,740 foot vertical depth well in Section 13-T25N-R6W,
Garfield Twp., Kalkaska Co., Michigan. The well is situated on over
1,100 acres of land controlled by Tiger Development, in which the
Company also has a lease interest, and from an economic perspective
is projected to produce 50-60 barrels a day once in full
production.
Production on this new oil well is expected to begin as early as
September, with updated reports expected shortly.
Michael Shea, the CEO of Gold Coast Mining Corp commented, "We
are very excited to confirm our first working interest and
partnership on the Tiger Development oil well project, and can
confirm this agreement has been settled through our investment
partner, with funds now released to begin development on this well
as soon as possible."
ABOUT GOLD COAST MINING
Gold Coast Mining Corp plans to pursue growth and enhance
shareholder value through acquisition opportunities in and out of
the mining industry. There are many lucrative mining projects that
are sitting idle due to lack of capital and/or financing direction.
Gold Coast will seek to capitalize on these opportunities by
securing capital, finance consulting, equipment assistance and
other financial assistance to these companies/projects.
Follow us on Twitter at http://twitter.com/GoldCoastMining
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include,
but are not limited to: the impact of economic, competitive and
other factors affecting the Company and its operations, markets,
product, and distributor performance.
CONTACT: Michael Shea Gold Coast Mining Corp. Phone: (203)
210-5614 Email: Michael.shea@gdsmholdings.com Melissa Diaz South
Street Media, Inc. Phone: (917) 937-8968 Email:
info@southstreetmedia.com
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