Canadian Spirit Resources Inc.
TSX VENTURE : SPI
OTC Bulletin Board : CSPUF

Canadian Spirit Resources Inc.

June 22, 2011 06:00 ET

Canadian Spirit Resources Inc. Resumes Montney Completion Program

CALGARY, ALBERTA--(Marketwire - June 22, 2011) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI) (OTCBB:CSPUF) announces that the spring road bans have been removed in the Farrell Creek area in northeastern B.C. enabling Canbriam Energy BC Partnership ("Canbriam"), operator of the Farrell Creek Montney joint venture, to begin preparations for additional drilling and development in the second half of 2011.

The capital program will resume with the fracture stimulation and testing of two previously drilled upper Montney horizontal wells at the c-45-I/94-B-1 and c-B18-I/94-B-1 locations on the western portion of the Farrell Creek joint venture lands. Upon completion, the two wells will be tied-into the Farrell Creek gas facility resulting in five Montney wells on production. One upper and two lower Montney horizontal wells are currently flowing gas into the facility. A short lateral to connect the c-45-I well to existing infrastructure has received regulatory approval with construction to begin shortly.

The joint venture is also moving a portion of its planned capital program to its east Farrell Creek lands to test the potential for natural gas liquids in this area. The program will begin with the drilling and testing of a vertical well during the third quarter of 2011. Other Montney operators in the area appear to have indications of natural gas liquids and one has announced that they will invest in the refrigeration equipment required for extraction of the liquids.

CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry.

On behalf of the Board of Directors,

CANADIAN SPIRIT RESOURCES INC.

Don Gardner, Chief Executive Officer & Secretary

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.

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT 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

    Canadian Spirit Resources Inc.
    Don Gardner
    (403) 539-5005
    (403) 262-4177 (FAX)
    don.gardner@csri.ca

    Canadian Spirit Resources Inc.
    Adam Buchanan
    Investor Relations
    (403) 539-5005
    (403) 262-4177 (FAX)
    adam.buchanan@csri.ca