CASSONA SE
CASSONA SE: CASSONA reports further news about the oil production in Alberta
DGAP-News: CASSONA SE / Key word(s): Miscellaneous 30.06.2014 / 18:21 --------------------------------------------------------------------- CASSONA expresses its thanks to Accurate Energy Solutions for expanding the oil production in the Red Earth area in the Province of Alberta in Canada to the current stage. In the third and forth quarter 2014 CASSONA implements the second growth phase of the oil extraction to significantly enhance the production in 2015. Frankfurt (30 June 2014) - CASSONA SE (COE) gives further updates on the oil production in Alberta (Canada). Since 2013 CASSONA is developing its oil property with the substantial support by Accurate Energy Solutions (www.accuratenrg.com) as CASSONA's strategic partner and local operator of the exploration license. After the successful start of the oil production in the first two quarters 2014, CASSONA prepares the expansion of the extraction to significantly enhance the production in 2015. From 72 possible wells the company plans to drill gradually as many wells as possible. To implement the second growth phase, the geologists and engineers already have picked the best locations and the negotiations to choose the drilling company will be finalized soon. CASSONA completes the preparations of horizontal drilling from same pad in December 2014 to perform multistage fracturing, expecting very high production results in 2015. In the current period CASSONA's oil production continues to focus on the existing vertical well. "We are so thankful to Michael Turner and his team from Accurate Energy Solutions to develop our oil production to this stage", expresses CASSONA's CEO Dr. Guido Quadri. "For CASSONA it is crucial that we are respectful to the needs and requirements of the nature. That's why the additional drilling starts only in December 2014, when it is guaranteed that all swamps, rivers and lakes, which we have to cross with heavy equipment, are frozen and our impact on the environment is as low as possible." CASSONA and Accurate Energy Solutions recently have received reference letters by the local Chief of the First Nations and by the responsible Trapper for their natural approach. "We will need 20 to 30 days to drill and additional 15 days to recomplete the horizontal wells before the production with the new wells starts," states Dr. Quadri. CASSONA is an investment company for targets of the business sectors oil & gas and other natural resources, mining and related 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 This announcement contains forward-looking statements that are based on current assumptions and forecasts of the management of CASSONA SE. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our company. The company assumes no liability to update these forward-looking statements or to conform them to future events or developments. (c) 2014 CASSONA SE is a European corporation in the legal form societas europaea (SE) with headquarters in Frankfurt am Main, country of origin Germany and first quotation at the Danish stock exchange GXG Markets A/S in the EU regulated market segment GXG Official List. End of Corporate News --------------------------------------------------------------------- 30.06.2014 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 --------------------------------------------------------------------- 275958 30.06.2014
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