VANCOUVER, Nov. 27, 2017 /CNW/ - Renaissance Oil Corp.
("Renaissance" or the "Company") (TSX-V: ROE) is
pleased to announce the Comisión Nacional de Hidrocarburos (the
"CNH") has approved drilling permits for the Chicontepec multi well drilling program on the
Amatitlán block in Veracruz,
Mexico. In conjunction with its partner Lukoil, Renaissance
will conduct the following operations:
- During the week of December 4th,
2017, mobilize Simmons Edeco Rig 836 to a multi-well
drilling location and spud the first well, Amatitlán 1649, of the
10 well drilling campaign which will occur over the course of
several months;
- Each well will be directionally drilled, targeting multiple
Chicontepec intervals, to a total
depth of 1,975 meters; and
- The second well in the program, Amatitlán 1708, will be drilled
subsequently from the same multi-well location.
"As the first Canadian operated oil well drilled in Mexico, in almost a century, the Amatitlán
1649 is a historical milestone", stated Craig Steinke, Chief Executive Officer of
Renaissance. He added, "Rig 836, owned by Canadian based
Simmons Edeco, will also be used to drill the planned 4,200 meter
measured depth horizontal Upper Jurassic shale well."
Renaissance continues to make progress on its journey to become
a major Mexican energy producer.
RENAISSANCE OIL CORP.
Per:
Craig Steinke
Chief Executive Officer
Cautionary Note Regarding Forward-Looking
Statements
This news release contains certain
"forward-looking statements" within the meaning of Canadian
securities legislation, including, without limitation, statements
with respect to the acceptance of the Offering by the TSX Venture
Exchange and the anticipated use of proceeds from the Offering.
Forward-looking statements are statements that are not historical
facts which address events, results, outcomes or developments that
the Company expects to occur; they are generally, but not always,
identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "aims",
"potential", "goal", "objective", "prospective", and similar
expressions, or that events or conditions "will", "would", "may",
"can", "could" or "should" occur. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made and they involve a
number of risks and uncertainties. Certain material assumptions
regarding such forward-looking statements are discussed in this
news release and the Company's annual and quarterly management's
discussion and analysis filed at www.sedar.com. Except as required
by the securities disclosure laws and regulations applicable to the
Company, the Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Renaissance Oil Corp.