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October 03, 2005
Vulcan Minerals Inc. Spuds Flat Bay #3
St. John’s, Newfoundland (PRWEB) October 2, 2005 -- Vulcan Minerals Inc. (“the Company” TSX-V: VUL), is pleased to announce that drilling operations have commenced at its Flat Bay #3 location in Western Newfoundland.
The well is situated near the Flat Bay #1 discovery where a thick oil bearing zone had been previously encountered.
Flat Bay #3 is situated in an area where the reservoir zone is interpreted to be naturally fractured due to faulting. This interpretation is based on seismic data, historic mining hole results and aerial lineament analysis. Natural fracturing of the reservoir would enhance the reservoir potential in the area. The Company is currently cementing the conductor casing at 18 meters depth. The permitted depth of the well is 600 meters, though that depth may vary depending on the rocks encountered. The well is being drilled with the company’s own drilling rig and is funded 100% by the Company. The Flat Bay target is a Carboniferous-age conglomerate-sandstone unit flanking the northern plunge of the Flat Bay anticline.
Vulcan is a junior exploration company focused on exploring for petroleum in Western Newfoundland. The Company has an experienced management group and is carrying 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 October 3, 2005 01:34 AM