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February 10, 2005
Completion Rig Begins Testing at "13-27" Well at Joarcam
Silver Star Energy, Inc. (OTCBB: SVSE) today announces that a completion rig has arrived at the "13-27" well location to begin the testing of the well. The completion program will involve the perforation and flow testing of 5.2 metres (17.1 feet) of Viking Formation that has positive oil indications on logs. The potential pay zone is at a depth of 974.5 to 979.7 metres (3197.3 to 3214.4 feet)
Los Angeles, CA (PRWEB) February 10, 2005 -- Silver Star Energy, Inc. (OTCBB: SVSE) today announces that a completion rig has arrived at the "13-27" well location to begin the testing of the well. The completion program will involve the perforation and flow testing of 5.2 metres (17.1 feet) of Viking Formation that has positive oil indications on logs. The potential pay zone is at a depth of 974.5 to 979.7 metres (3197.3 to 3214.4 feet).
The "13-27" well location directly offsets Enermark's "16-28-47-20W4M" well that initially produced oil at rates of approximately 75 barrels per day. The operator has made a direct comparison between the logs of the two wells and has determined that the 5.2 metre interval to be tested at the "13-27" well appears to be a cleaner sand and thus may be more productive than the Enermark well.
Currently, the 38-degree API light oil at Joarcam has been priced at over $46.00 per barrel. The prospect lands are located about 25 miles southeast of Edmonton, Alberta and there is year round access to the property.
About Silver Star Energy, Inc.
The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high-quality, low-risk prospects provided via key strategic alliance partnerships.
Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Silver Star Energy, Inc. has little or no control.
On Behalf Of The Board
Silver Star Energy, Inc.
Robert McIntosh-President
To find out more about Silver Star Energy, Inc. (OTCBB: SVSE), visit our website at www.silverstarenergy.com.
Silver Star Energy Inc. is Featured Company on NaturalGasStocks.com
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Contact:
1-888-803-SVSE (7873)
Silver Star Energy, Inc.
Source: Silver Star Energy, Inc
Posted by Industrial at February 10, 2005 03:49 AM