Wave Energy Ltd.

June 10, 2008 16:00 ET

Wave Energy Ltd Announces the Purchase of 25 Sections in Dodsland, Saskatchewan

CALGARY, ALBERTA--(Marketwire - June 10, 2008) - Wave Energy Ltd is pleased to announce the acquisition of 25 sections (15,984 acres) of land in the Dodsland area of Saskatchewan. These 100% owned lands are predominately located within the defined boundaries of the Dodsland Viking oil pool and were acquired at the February 2008 land sale.

Wave Energy believes that the lands are suitable for horizontal drilling with multi stage frac completions. This technology has been used extensively by the company in their resource play in the Shaunavon area.

The Company believes that, with the successful application of this technology, the company will have the opportunity to drill up to 4 wells per section resulting in a potential 100 drilling locations. The Dodsland Viking oil pool produces light gravity oil of approximately 36 degree API.

Wave intends to drill several wells in the Dodsland area during the remainder of 2008.

Wave Energy Ltd is a privately held junior oil and gas company with primary operations in Saskatchewan and Montana.

Contact Information

  • Wave Energy Ltd.
    Don Rae
    CEO and President
    (403) 262-9283
    or
    Wave Energy Ltd.
    Eric Hughes
    CFO and VP Finance
    (403) 231-0743