CALGARY, ALBERTA--(Marketwire - June 25, 2012) - Sunridge Energy Corp. ("Sunridge" ) (TSX VENTURE:SRG) is pleased to report that we have production tested our first discovery well in the Millet area at 102/9-36-47-25 W4. The well evaluated and tested 150 barrels per day of 18.3 API gravity oil. Production will commence within one week. This well qualifies for the 5% Alberta royalty free holiday for the first 50,000 barrels. Sunridge is operator, with an 80% working interest in the well.
Sunridge is in the process of finalizing the drill program for our second well at 102/14-22-47-25-W4 which has an estimated 15.0 metres of pay on logs, twice the pay of the discovery well. Sunridge has acquired 3000 acres of land within the new pool discovery area.
Sunridge Energy is an exploration and production company focused on sustainable oil developments that are highly economic and decrease costs.
On behalf of the board,
Dwayne Tyrkalo, Chief Executive Officer
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Sunridge cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Sunridge's control. Such factors include, among other things: risks and uncertainties relating to Sunridge's ability to complete the drilling of its second well, or that there will be production from any wells drilled. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Sunridge undertakes no obligation to publicly update or revise forward-looking information.
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