Glamis Resources Ltd.

Glamis Resources Ltd.

June 05, 2009 09:00 ET

Glamis Resources Ltd.: Q2 2009 Operations Update

CALGARY, ALBERTA--(Marketwire - June 5, 2009) -


Glamis Resources Ltd. (TSX VENTURE:GLM.A) (TSX VENTURE:GLM.B) ("Glamis" or "the Company") is pleased to provide an operations update for our recently drilled exploration well in southeast Saskatchewan.

Glamis recently drilled and completed it's first of five separate oil exploration targets that are planned to be drilled in southeast Saskatchewan and southwest Manitoba throughout 2009. The 100% working interest horizontal well was drilled to a total measured depth of 1770 m and encountered an oil-bearing Tilston reservoir. An intensive open hole swabbing operation resulted in the recovery of nearly all the load fluid and established an oil cut ranging from 50% to 32% in various intervals. Additionally, based on the Corporation's evaluation of inflow performance, management believes that the well is capable of producing up to 750 bbls of fluid per day. Initial production is estimated to average approximately 200 bbls of light oil (39 degrees API) per day. Glamis expects to drill its next exploratory target in southeast Saskatchewan by the end of July.

Glamis Resources Ltd. is a junior oil and gas company formed to generate and develop its own prospects, acquire oil and gas properties and participate with joint venture partners in oil and gas exploration and development in the Western Canadian Sedimentary Basin. The Company's Class A Shares and Class B Shares trade on the TSX Venture Exchange under the symbols GLM.A and GLM.B. The Company currently has 24,190,442 Class A shares and 922,500 Class B shares outstanding.

FORWARD LOOKING STATEMENTS: Certain information regarding Glamis in this news release including management's assessment of future plans and operations, timing of drilling and tie-in of wells, productive capacity of the new wells and productive capacity from different wells, expected production rates, drilling success rates, dates of commencement of production, may constitute forward looking statements under applicable securities laws and necessarily involve risks and assumptions including, without limitation, risks and assumptions associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, unexpected decline rates in wells, wells not performing as expected, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could effect Glamis' operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website ( Furthermore, the forward looking statements contained in this news release are made as at the date of this news release and Glamis does not undertake any obligation to update publicly or to revise any of the included forward looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. The term "boe" may be misleading, particularly if used in isolation. A boe conversion of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.


Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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