CALGARY, Nov. 5 /CNW/ - Raimount currently produces the equivalent of 8m³/day from the Innisfail, Alberta area and operates a freehold unit entitled Woolford Unit No.1 near Cardston, Alberta (the "Woolford Unit"). One well in the Woolford Unit has recently been completed in the Rierdon shale and has produced 22.91 m³ of light oil, 12.86 10³m³ of natural gas and 0.80 m³ of water over a three day test period.
To verify the significance of this new oil find, the Company is proceeding to recomplete and test other wells located within the Woolford Unit. The Company holds a 50% working interest in the Woolford Unit and in approximately 2500 hectares of non-unitized freehold lands in the immediate vicinity of the Woolford Unit.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information:
Gregory A. Vavra, President
Raimount Energy Inc.
Telephone: (403) 265-6292
E-mail: gvavra@raimount.com
Fax: (403) 265-2110
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