Sentry Petroleum Appoints Highly Experienced Drilling and Operations Manager
March 28 2011 - 9:51AM
Business Wire
Sentry Petroleum Ltd. (OTCBB:SPLM) is pleased to announce
excellent progress on the upcoming drilling program in ATP 862 and
ATP 864. The Company has appointed Tim Green, as the company’s
Drilling and Operations Manager. Mr. Green, who has over 30 years
industry experience, has had a lustrous career with a wide range of
companies including Texaco, Premier Oil and Enterprise Oil in a
variety of worldwide locations. In recent years he has focused on
coal seam gas exploration drilling. His experience and expertise
will ensure that all aspects of drilling and testing during
Sentry’s upcoming program meet and exceed company requirements.
President and CEO Dr. Rajeswaran commented on the appointment:
“Tim has earned a tremendous reputation in our industry and we feel
fortunate that he has chosen to work with us. As we have declared
previously, to only work with people of the highest caliber, Tim’s
appointment certainly meets the requirements of this corporate
philosophy. The importance of first class engineering and design of
our wells can’t be overstated. With Tim at the helm we are in very
good hands to optimize the results from our upcoming wells.”
Negotiations are also progressing with drilling and testing
suppliers and Sentry expect to make an announcement on final
selection during the coming weeks.
- Sentry believes ATP 862 and ATP 864
have excellent potential for the exploration, appraisal and
development of coal seam gas, and is targeting what it believes to
be a potential 2,000 sq mile coal and shale gas deposit delineated
within the permits at a depth of between 600 and 1,500 feet, ideal
for development of coal seam gas.
- With a successful drilling and testing
core hole campaign, Sentry plans to move quickly into an extended
program to certify reserves.
Background
Sentry holds 100% working interest in both the conventional and
coal seam gas rights for permits ATP 862 and ATP 864 in Queensland
Australia. These two permits cover an area of approximately 5,600
sq miles of highly prospective acreage close to infrastructure and
are surrounded by many of the world’s largest energy conglomerates.
Analyses of publicly available exploration reports from a number of
different well locations suggest a good quality, low rank coal
across the ATP 862 and ATP 864 permit areas.
Cautionary Note: The Company cautions that the estimated
quantities of coal and carbonaceous shale disclosed in this press
release represent an estimate of the potential of the noted permit
areas based strictly on a review of technical data that is publicly
available and are not intended to be construed in any manner as an
estimate of any classification of reserves. Further appraisal is
required before any estimated classification of reserves can be
compiled. The Company’s upcoming appraisal drilling campaign is
being undertaken in order to build the necessary data to be able to
compile an estimate of reserves and make a later determination as
to whether any noted reserves can be produced economically. There
is risk that our upcoming appraisal drilling campaign will not be
able to confirm the Company’s findings from its review of publicly
available technical data.
About Sentry Petroleum
Sentry Petroleum Ltd is an American energy company with 10,600
square miles of oil, gas and coal seam gas rights in Queensland,
Australia. The company has identified over 50 separate oil, gas and
coal seam gas targets and leads within its permit area. Sentry
Petroleum’s strategy is to drill the prospects and leads and
independently certify the results. The company will continue to
leverage its strengths with a vision of becoming a premier
independent oil and gas company positioned for merger or sale. For
more information, please visit www.sentrypetroleum.com.
Forward-Looking Statements: This release includes certain
statements that may be deemed to be “forward-looking statements”
within the meaning of applicable legislation. Other than statements
of historical fact, all statements in this release addressing
future operations, undiscovered hydrocarbon resource potential,
exploration, potential reservoirs, prospects, leads and other
contingencies are forward-looking statements. Although management
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, and actual results may differ
materially from those in the forward-looking statements due to
factors such as market prices, exploration successes, continued
availability of capital and financing, and general economic,
market, political or business conditions. Please see our public
filings at http://www.sec.gov and http://www.sedar.com for further
information.
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