Relentless Resources Announces Filing of Third Quarter 2011 Financial Statements, Rig Release of Second Horizontal Viking Wel...
November 29 2011 - 4:00PM
Marketwired
Relentless Resources Ltd. ("Relentless" or "the Company") (TSX
VENTURE:RRL) announces that it has filed its unaudited interim
financial statements for the three and nine month periods ended
September 30, 2011, and management's discussion and analysis, such
filings available on SEDAR at www.sedar.com.
Relentless is also pleased to announce the successful drilling
of the 100% working interest Relentless Loverna HZ
4C15-6-2C13-6-31-28 W3M well, its second horizontal well on its
interests in southwest Saskatchewan. The well was drilled and
production casing set to a measured depth of 1,530 meters after
drilling a 655 meter horizontal section of Viking reservoir. The
horizontal section of Viking reservoir in the well will be
completed using multi-stage fracturing when completion equipment is
available. Relentless acquired a 100 percent working interest in
the Viking petroleum and natural gas rights on 518 ha (1,280 acres)
of contiguous lands in this area in November 2010.
The Company announces that effective immediately, Mr. Pradeep
Nathwani has been appointed Vice-President, Finance, and Chief
Financial Officer of the Company, replacing Mr. Randall Boyd who
stepped down on November 28, 2011. Mr. Nathwani, a Registered
Public Accountant, has over 20 years of accounting experience both
as a consultant and in-house, most recently as Vice-President at
Pandell Technology Corp. The appointment of Mr. Nathwani is subject
to regulatory approval.
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 and Saskatchewan. 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.
Reader Advisory
Forward Looking Statements
This news release contains forward-looking information and
forward-looking statements within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "believe", "plans",
"intends", "confident", "may", "objective", "ongoing", "will",
"should", "project", and similar expressions are intended to
identify forward-looking information. More particularly, this
document contains forward looking statements which include, but are
not limited to, the future operations of Relentless, that
necessarily involve risks including, without limitation, risks
associated with oil and gas development, production, competition
from other producers, inability to retain drilling rigs and other
services, delays resulting from or inability to obtain required
regulatory approvals, and the inability to fund required capital
expenditures. Actual future results may differ materially from
those assumed or described in such forward-looking statements as a
result of the impact of issues, risks and uncertainties whether
described herein or not, which Relentless may not be able to
control. The reader is therefore cautioned not to place undue
reliance on such forward-looking statements. The forward-looking
statements contained in this news release are made as of the date
hereof and Relentless undertakes no obligation to update publicly
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by
applicable securities laws. The forward-looking statements
contained in this news release are expressly qualified by this
cautionary statement.
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.
Contacts: Relentless Resources Ltd. Dan Wilson President &
CEO (403) 532 - 4466 ext. 227 or Mobile: (403) 874 - 9862 (403) 303
- 2503
(FAX)dwilson@relentless-resources.comwww.relentless-resources.com
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