CASSONA SE
CASSONA SE: CASSONA’s horizontal drilling has been approved
CASSONA SE / Key word(s): Miscellaneous CASSONA has received all necessary permits, approvals and licenses to start drilling on its oil property in Alberta in Canada the horizontal well on December 1, 2014. Frankfurt (28 October 2014) – CASSONA SE (COE) is pleased to announce to have received all necessary permits, approvals and licenses to drill the horizontal well on its oil property in Red Earth. The horizontal drilling will start on December 1, 2014. All necessary infrastructure and access roads have just been built. CASSONA has secured all necessary services to complete the drilling of the well and plans to finish the drilling on January 1, 2015. The oil production on the horizontal well will start immediately after completion in January 2015. “Our initial crude oil production on our property in Alberta so far comes from vertical drilling,” a company spokesperson is cited. “With the horizontal drilling we are able to multiply our production volumes immediately.” CASSONA has successfully started to produce light oil since January 2014. In 2015 the horizontal drilling shall enhance significantly the efficient exploitation of the vast proven oil reserves. “It is good news that the temperatures in Alberta are starting to drop significantly these days. On the frozen ground it will be way easier to transport the heavy weights of the drilling equipment. While drilling we are simultaneously analyzing the drilling results as our completion program will subsequently be adjusted by our engineers and specialist team to ensure the maximum penetration of the oil zone until completion in January 2015,” the drilling process is described. CASSONA is an investment company for targets of the business sector oil & gas 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). ir@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. 28.10.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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 |
293614 28.10.2014 |