Canadian Spirit Resources Inc.
TSX VENTURE : SPI
PINK SHEETS : CSPUF

Canadian Spirit Resources Inc.

August 26, 2010 06:00 ET

Canadian Spirit Resources Inc. Announces Remediation & Drilling of Horizontal Montney Wells

CALGARY, ALBERTA--(Marketwire - Aug. 26, 2010) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI) (PINK SHEETS:CSPUF) is very pleased to announce that further to the news release issued on July 22nd, Canbriam Energy BC Partnership, the operator, was successful in its efforts to remediate the first three stages of a lower Montney horizontal well at the c-A48-I/94-B-1 location in the Farrell Creek area of northeastern British Columbia. The joint venture is encouraged as the per stage flow rates were consistent with the results of the two stages previously flow tested in the c-A48-I well (approximately 1 mmcf/d per stage). The joint venture is preparing to fracture stimulate additional stages in this well in early September.

Based on these positive results, the joint venture believes that the lower Montney could add to the total productivity and reserve potential of the Montney Formation. As a result, the operator has re-entered the b-17-I well-bore and is proceeding with a horizontal leg into the lower Montney which is expected to be drilled and cased in September.

CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry. The mission of the Corporation is to develop 1 trillion cubic feet of natural gas from resource plays in western Canada.

Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation's website at www.csri.ca.

On behalf of the Board of Directors,

CANADIAN SPIRIT RESOURCES INC.

"Don Gardner", Chief Executive Officer

The corporate information contained in this news release may contain forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by CSRI at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently there is no representation by CSRI that actual results achieved during the forecast period will be the same in whole or in part as those forecast.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contact Information

  • Canadian Spirit Resources Inc.
    Phil Geiger
    (403) 539-5005
    (403) 262-4177 (FAX)
    phil.geiger@csri.ca
    or
    Canadian Spirit Resources Inc.
    Don Gardner
    Chief Executive Officer
    (403) 539-5005
    (403) 262-4177 (FAX)
    don.gardner@csri.ca
    or
    Canadian Spirit Resources Inc.
    Adam Buchanan
    Investor Relations
    (403) 539-5005
    (403) 262-4177 (FAX)
    adam.buchanan@csri.ca
    www.csri.ca