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August 10, 2005
Storm #1 Reaches Total Depth
The Company reports that the Storm #1 well has reached total depth at 880 meters having penetrated the target zones.
St. John’s - Newfoundland (PRWEB) August 10, 2005 -- Vulcan Minerals Inc. (“the Company” TSX-V: VUL) reports that the Storm #1 well has reached total depth at 880 meters having penetrated the target zones. No petroleum shows were encountered as it appears the trap was not charged by petroleum source rocks. Final evaluation of the well, however, will await geophysical logging which will be carried out over the next few days. The Storm #1 location was the first well ever drilled for petroleum in this part of the geologic section. The geologic information gained will be very valuable in assessing other targets in this area. Upon rig release from Storm #1 the rig will move approximately 30 km south to the Hurricane #1 location recently farmed out to Terralliance Technologies Canada Inc. (see news release August 2, 2005). That well will penetrate a Lower Carboniferous section known to contain oil at the Flat Bay discovery 20 km north. As well it will test deeper targets never before drilled.
Vulcan is a junior exploration company focused on exploring for petroleum in Western Newfoundland. The Company has an experienced management group and is well funded to carry out a multi-well program in 2005. Vulcan owns interests in approximately 250,000 acres in the Bay St. George Basin, which has the potential to be a new petroleum basin in North America.
Posted by Industrial-Manufacturing at August 10, 2005 03:05 AM