Westcore Energy Ltd.

Westcore Energy Ltd.

July 12, 2017 19:58 ET

Westcore Energy Ltd. Announces Joint Venture Agreement at Flaxcombe

SASKATOON, SASKATCHEWAN--(Marketwired - July 12, 2017) - Westcore Energy Ltd. ("Westcore" or the "Company") (TSX VENTURE:WTR) announces that it has entered into a joint venture agreement (the "Agreement") with Saturn Oil & Gas Inc. ("Saturn") (TSX VENTURE:SMI) to develop two sections of land (with each company contributing one section) near Flaxcombe, Saskatchewan. Under the terms of the Agreement, each of Westcore and Saturn shall have a 50% working interest in both sections.

These Flaxcombe assets are located 30 km west of Kindersley, Saskatchewan and are contiguous with Westcore's existing land package at Flaxcombe. Westcore, in conjunction with Saturn, is currently reviewing available 3-D seismic with the intention of completing an initial re-entry program on one of the existing wells on the properties or a new drill program on the properties in 2017.

Additionally, Westcore announces that it has entered into a working interest agreement with Saturn on the recompletion of an existing well on Westcore's land at Flaxcombe. Under the terms of this agreement, Saturn will bear 100% of the costs to bring the well on production in exchange for a 50% interest in the production from the well. It is anticipated that work will commence on the recompletion in the near future.

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Contact Information

  • Westcore Energy Ltd.
    Andrew Davidson
    Vice President and Chief Operating Officer
    (306) 653-2692