Anglo Canadian Oil Corp.

Anglo Canadian Oil Corp.

November 25, 2011 08:00 ET

Anglo Provides Operations Update

CALGARY, ALBERTA--(Marketwire - Nov. 25, 2011) - Anglo Canadian Oil Corp. ("Anglo" or the "Corporation") (TSX VENTURE:ACG) Anglo has drilled and completed the first of two wells in the Ante Creek area of West Central Alberta. Anglo's 8-3-67-26-W5 well was completed in both the Montney and Nordegg zones. The Montney zone was stimulated with acid while the Nordegg zone was fracture stimulated. Subsequent to flow-back, swabbing and evaluation, the well has been deemed uneconomic and has been suspended.

Anglo's second well in the Ante Creek area, the 3-4-67-26-W5 well has been drilled and cased and is awaiting stimulation of the Nordegg zone while new hydraulic fracture designs are engineered. The Montney zone has been completed and abandoned.

As an exploration company, Anglo holds petroleum rights to 172,160 acres (269 sections) of potential Nordegg oil bearing lands in West Central Alberta. While the Nordegg formation has produced over 600,000 barrels of oil from three wells drilled between 25 and 8 years ago, only recently has the zone been tested utilizing multi-stage hydraulic fracturing technology.

This technology has been tested successfully within the Nordegg. 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 Ante Creek Nordegg lands are on trend with this well, which is approximately 30 miles from Anglo's lands.

As an emerging resource play, with industry activity ramping up, Anglo remains encouraged and committed to proving the commercial viability of the play on its lands.

Anglo maintains a strong balance sheet and holds no debt. The Corporation's 2011 3rd quarter financial statements may be viewed on SEDAR.

Anglo also owns rights to 89,919 acres (140 sections) of land in Central Alberta which contains a multitude of potential oil zones including Beaverhill Lake, Duvernay, Ireton, Mannville and Viking.

In addition the Corporation holds 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".


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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