Westcore Energy Ltd. (TSXV:WTR) announced that it has commenced a new six well drill program at the Riverside oil and gas property. The property is owned by Allstar Energy Limited, a subsidiary of 49 North Resources Inc. The Company anticipates the program to be completed by the end of December.
As quoted in the press release:
The first well in the program was drilled 400 meters north of a producing recompleted well in the southwestern portion of the Riverside land package. Drilling encountered an oil bearing zone of approximately 40 meters. The second well in the program was drilled a further 600 meters north of the first well (1,000 meters north of the recompleted well) and encountered an oil bearing zone of approximately 32 meters.
Westcore, President and CEO, Paul Conroy, stated:
We are encouraged with the preliminary results of the first two wells of the six well program. The interpreted 3D seismic data has proven as an extremely valuable tool to help define the economic oil potential at Riverside.