Anglo Canadian Oil Corp.
TSX VENTURE : ACG

Anglo Canadian Oil Corp.

July 07, 2010 08:29 ET

Anglo Canadian Oil Corp. Spuds Well and Provides Operations Update

CALGARY, ALBERTA--(Marketwire - July 7, 2010) - Anglo Canadian Oil Corp. (TSX VENTURE:ACG) ("Anglo" or the "Corporation") has spudded its first well, Anglo Hz Shane 7-11, of its planned four well summer drilling and evaluation program. The Shane 7-11 well will be cored, logged and hydrocarbon potential evaluated to determine the suitability of a horizontal multi-stage frac in the Nordegg Member oil shale. Drilling is expected to be completed within 16 days. The completion and production testing of the well is expected to take an additional 2 weeks pending the outcome of the drilling evaluation.

This summer's drilling and evaluation program is primarily designed to aid in further evaluating the oil resource on Anglo's 172,000 acre Nordegg Member oil shale land position in the Grande Prairie region of West Central Alberta. Anglo expects two of the four wells drilled this summer to be drilled horizontally and completed using multistage fracing techniques. Anglo's summer drilling and completion program is expected to be completed in September of this year.

The Nordegg Member is a known organic rich oil source in Alberta and may be well suited to benefit from the latest horizontal multi stage fracing techniques.

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".

CAUTION REGARDING FORWARD LOOKING STATEMENTS

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.

Contact Information

  • Anglo Canadian Oil Corp.
    James R. Ehret
    President
    403-508-9961
    403-508-9395 (FAX)
    jehret@traxion.ca