CASSONA SE
CASSONA SE: CASSONA informs about surprise successes of its crude oil production in Canada
DGAP-News: CASSONA SE / Key word(s): Drilling Result 11.02.2014 / 10:10 --------------------------------------------------------------------- The crude oil production in Canada shows much better results than initially expected. CASSONA's oil property in Alberta (Canada) holds beside significant reserves of light oil as well in higher rock layers huge deposits of heavy oil. Frankfurt (11 February 2014) - CASSONA SE (COE) informs that in addition to the significant reserves of light oil, which have been proven on its oil property, surprisingly in higher rock layers heavy oil has been found as well. Since beginning of January CASSONA produces high qualified light oil from a depth of about 1'300 meters. In Central North Alberta this soil layer is called Slave Point Formation, and describes extensive marine carbonate deposits from the middle Devonian in age of about 380-400 million years ago. The light oil today produced out of these sediments possesses a particularly high quality, contains only a small fraction of water and other impurities and obtains market prices of up to 95 USD per barrel. Since 6 January 2014 CASSONA produces on the first well between 220 and 270 barrel per day. Above the light oil deposits in a depth of about 400 meters now further deposits of heavy oil have been proven. The size of these deposits might be twice as large. 'We are very amazed about this surprising success', exclaims the CEO Dr. Guido Quadri. 'The reason for this surprise might be the fact that our oil property is almost virgin and untouched. Though the production of heavy oil requires a complete different technology. Currently we are highly satisfied with our first production volumes of light oil and as a next step we are planning to systematically develop the entire property with additional wells and the approved technology of horizontal drilling. Further investments are considered in the infrastructure, which might be of use as well for the surrounding oil properties. Before announcing further details about the effective proven oil reserves and their evaluation, we have to wait for the outside expert's opinion, which is currently carried out by an independent engineering office', Dr. Quadri says. CASSONA is an investment corporation for targets of the business sectors natural resources, mining and infrastructure. CASSONA is a European corporation with domicile in Frankfurt Main. The shares are listed at the regulated market of GXG Markets and they are traded at the Open Market of Frankfurt Stock Exchange FWB and at Berlin Stock Exchange (ISIN DE000A1C6T63). CASSONA SE Schubertstr. 14 60325 Frankfurt Main Germany ir@cassona.de www.cassona.de End of Corporate News --------------------------------------------------------------------- 11.02.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: CASSONA SE Schubertstrasse 14 60325 Frankfurt Germany Phone: 030 6150 82 151 Fax: 030 6150 82 152 E-mail: info@cassona.de Internet: www.cassona.de ISIN: DE000A1C6T63 WKN: A1C6T6 Listed: Freiverkehr in Berlin; Frankfurt in Open Market ; GXG End of News DGAP News-Service --------------------------------------------------------------------- 251992 11.02.2014
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