Twoco Petroleums Ltd. Updates Drilling Activities
December 06 2010 - 5:43PM
Marketwired Canada
Twoco Petroleums Ltd. ("Twoco" or the "Company") (TSX VENTURE:TWO) is pleased to
announce that it has finalized the drilling and completion operations on its 2
gross (1.97 net) horizontal oil wells on the Company's Sparky oil prospect in
the Warspite area of Alberta. The wells are currently shut-in for pressure
build-ups prior to the commencement of production. Production equipment is being
sourced with delivery expected in the near future. It is anticipated that the
wells will be on production no later than December 31, 2010.
Twoco is an oil and gas company engaged in the exploration for, and the
acquisition, development and production of, oil and natural gas reserves
primarily in the Province of Alberta.
Forward-Looking Statements:
Certain information set forth in this news release contains forward-looking
statements or information (forward-looking statements"), including statements
regarding the timing of the delivery of production equipment and the timing of
production. By their nature, forward-looking statements are subject to numerous
risks and uncertainties, some of which are beyond Twoco's control, including the
impact of general economic conditions, industry conditions, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, operational risks in exploration and development,
competition from other industry participants, the lack of availability of
qualified personnel or management, stock market volatility and the ability to
access sufficient capital from internal and external sources. Although Twoco
believes that the expectations in our forward-looking statements are reasonable,
our forward-looking statements have been based on factors and assumptions
concerning future events which may prove to be inaccurate. Those factors and
assumptions are based upon currently available information. Such statements are
subject to known and unknown risks, uncertainties and other factors that could
influence actual results or events and cause actual results or events to differ
materially from those stated, anticipated or implied in the forward looking
information. As such, readers are cautioned not to place undue reliance on the
forward looking information, as no assurance can be provided as to future
results, levels of activity or achievements. The risks, uncertainties, material
assumptions and other factors that could affect actual results are discussed in
our Annual Information Form and other documents available at www.sedar.com.
Furthermore, the forward-looking statements contained in this document are made
as of the date of this document and, except as required by applicable law, Twoco
does not undertake any obligation to publicly update or to revise any of the
included forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements contained in this
document are expressly qualified by this cautionary statement.
This news release shall not constitute an offer to sell or the solicitation of
any offer to buy securities in any jurisdiction.
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