Anglo Canadian Oil Corp.
TSX VENTURE : ACG

Anglo Canadian Oil Corp.

August 12, 2011 08:00 ET

Anglo Canadian Oil Corp.: Industry Activity Ramps Up in the Nordegg Member Oil Fairway

CALGARY, ALBERTA--(Marketwire - Aug. 12, 2011) - Anglo Canadian Oil Corp. ("Anglo" or the "Corporation") (TSX VENTURE:ACG) expects to have two Nordegg wells licensed on its Ante Creek lands by month end pending regulatory approvals. Lease construction will commence as soon as the licenses are received, followed by rig move and spudding. These two wells (3-4-67-26 W5 and 8-3-67-26 W5) target the Nordegg and Montney zones. A third follow-up well directly offsetting the 3-4 well is also in the approvals process.

In addition Anglo has surveyed three locations on its Sturgeon Lake lands targeting the Nordegg. Winter location scouting has been initiated on potentially four multi-well pads also targeting the Nordegg on its Ante Creek lands.

Recent successful activity within the Nordegg Member oil fairway has been reported. A major player active in the area recently reported a Nordegg horizontal well completed with a multi-stage frac had produced 500 BOE/d with 400 bbl/d oil in initial flow back tests. Anglo's Sturgeon Lake Nordegg lands are on trend with this well, which is approximately 30 miles from Anglo's lands. The same company had also drilled a horizontal multi-stage frac'd Nordegg well approximately 30 miles from and on trend with Anglo's Ante Creek lands. The 30 day initial production rate for this well was 78 bbl oil/d.

These wells reportedly produced an API oil gravity of, respectively, 41 degrees and 32 degrees.

This same company plans to have additional results from four Nordegg and Montney wells drilled in the Placid and Simonette areas by early September.

In addition another Nordegg producer, 11 miles from Anglo's Ante Creek lands, was recompleted recently in a vertical well and produced at an average of 29 bbl/d oil over the initial 30 day producing period.

Anglo owns rights to 172,160 acres (269 sections) of potential Nordegg oil bearing lands in West Central Alberta, as well as 89,919 acres (140 sections) of potential oil bearing Beaverhill Lake and Duvernay lands in Central Alberta and an additional 17,640 acres (27 sections) of potential Bakken and Mannville oil bearing lands in the Kindersley area of Southwest Saskatchewan. In the vast majority of these lands, the Corporation holds a 100% working interest.

Anglo is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Common Shares are listed on the TSX Venture Exchange under the trading symbol "ACG".

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Certain statements contained herein may constitute forward-looking statements Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

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.

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