TUSCANY ENERGY LTD.
TSX VENTURE : TUS

TUSCANY ENERGY LTD.

November 09, 2011 13:48 ET

Tuscany Commences Evesham and Macklin, Saskatchewan, Development Program

CALGARY, ALBERTA--(Marketwire - Nov. 9, 2011) - Tuscany Energy Ltd. (TSX VENTURE:TUS) announces today that it has commenced a development drilling program to drill up to 5 horizontal Dina heavy oil wells in the Evesham and Macklin areas.

The first well located in the Evesham Dina pool has reached total depth and encountered 500 metres of oil saturated porous sand. Tuscany has a 60% interest in this well and is the operator. This well is the first to be drilled on the south side of the pool, from a new production pad.

After casing the Evesham well, the drilling rig is being moved to the Macklin area to drill two 50 metre offset wells to a well Tuscany recently drilled. This Dina oil well was placed on production September 18, 2011, and has steadily produced in excess of 100 barrels of oil per day (55 bopd net), to date. Tuscany has a 55% working interest in the well and is the operator.

In addition, Tuscany recently acquired a 55 % working interest in section 33-39-28W3 immediately to the north of the Macklin pool and has shot a two section 3D seismic program to delineate additional locations.

Following the Macklin wells Tuscany plans to move the drilling rig the Evesham west production pad to drill up to 2 additional wells.

ADVISORY: Certain information in this news release, including drilling plans and projected drilling, completion and equipping costs, and production rates from the Evesham and Macklin fields may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, environmental risks, competition from other producers, inability to retain drilling rigs and other services, capital expenditure costs, including drilling, completion and facilities costs, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive.

The forward looking statements contained in this press release are made as of the date hereof and Tuscany undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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

  • TUSCANY ENERGY LTD.
    Robert W. Lamond
    Chairman & CEO
    (403) 269-9889
    (403) 269-9890 (FAX)

    TUSCANY ENERGY LTD.
    Donald K. Clark
    Vice President Operations
    (403) 269-9889
    (403) 269-9890 (FAX)