Norwood Resources Ltd.
TSX VENTURE : NRS

Norwood Resources Ltd.

March 31, 2008 12:39 ET

Norwood Spuds Maderas Negras No. 1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2008) - Norwood Resources Ltd. (the "Company") (TSX VENTURE:NRS) announces that it has spudded a third well on its onshore concession in Nicaragua. The Maderas Negras No.1 is programmed to a depth of 6500 feet approximately. Drilling is scheduled to be completed by the end of April.

The new location at Maderas Negras has been selected to exploit the same oil-bearing reservoir facies located in the San Bartolo and Las Mesas wells. This location was identified as a priority drill target during the seismic re-mapping process. This work confirmed the presence of several structural closures of significant size, the one at Madres Negras being the largest and up dip from San Bartolo.

Upon reaching total depth and based on positive logging results, the Company will complete and test the well for commerciality.

ON BEHALF OF THE BOARD OF DIRECTORS OF NORWOOD RESOURCES LTD.

Raymond Cahill, President & CEO

WE SEEK SAFE HARBOUR

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • Norwood Resources Ltd. (NRS)
    Raymond Cahill
    President & CEO
    (604) 642-6566

    Norwood Resources Ltd. (NRS)
    Lee DiStefano
    Chief Operating Officer
    (604) 642-6566
    Email: info@norwoodresources.com