KALLISTO PROVIDES CROSSFIELD WELL UPDATE AND ANNOUNCES NEW CORPORATE
PRESENTATION
CALGARY, Sept. 22 /CNW/ - Kallisto Energy Corp. (TSX Venture: KEC) ("Kallisto" or the "Company") is pleased to announce that its first Crossfield, Alberta well has been completed. The well is currently shut-in to conduct required reservoir pressure testing and is expected to be placed on production within the next 10 days. In accordance with the Company's policy, production rates will be released once stabilized rates have been established. The well is a horizontal well targeting the Viking formation and was completed with 11 multi-stage fracture stimulations. The horizontal well is offsetting a vertical well which was completed in the Viking zone and produced approximately 13,700 barrels of light sweet oil with very low gas and water production. Kallisto has a 50% interest in the well, the first of its planned 5 well Crossfield Viking drilling program in which the Company will participate during 2010.
The Company also announces that an updated corporate presentation is being posted on its website at www.kallistoenergy.com.
Kallisto is a Calgary-based junior resource company engaged in the exploration, development and production of oil and natural gas in Alberta.
This press release contains forward-looking statements which include, but are not limited to, well production schedules, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of the Company may be affected by a variety of variables and risks associated with oil and gas drilling, production and transportation, loss of market, volatility of oil and gas prices, imprecision of reserve estimates, environmental risks, competition from other producers. As a consequence, actual results could differ materially from those anticipated or implied in the forward-looking statements. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement and are made as of the date of this news release. Unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, event, results or circumstances or otherwise.
Neither 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.
For further information: Robyn Lore, President, Telephone: (403) 237-9996, Facsimile: (403) 264-0416
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