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VVC Exploration Corporation, dba VVC Resources, ("VVC") or (the "Company"), (TSX-V:VVC and OTCQC:VVCVF) announces the following significant developments on its ongoing Syracuse Project:
Completed Durler 2-21 Well Now Being Optimized
VVC previously announced, on November 16, 2023, the successful completion of the Durler 2-21 well and the beginning of testing of the well. This well is a pivotal component of the Syracuse Project aimed at helium and natural gas extraction. The Company now has two wells producing and selling helium and natural gas on the Syracuse Project: the Levens 2-31 in the northwest portion of the project and the Durler 2-21 in the Southeast portion of the project. The location of these sites will provide significant guidance in further development of the Project.
The VVC Team is now optimizing production from the Durler 2-21, which has shown stronger than expected initial results, to ensure maximum efficiency and maximum overall productivity. This testing and adjustment phase will likely take place over 8 to 10 weeks during which time the Team will gain a much better understanding not only of this well, but also of the overall project.
Completion Phase Underway on Hodgson 1-17 and C Double D 1-16 Wells
On December 11, 2023, VVC began the completion phase of two additional critical Syracuse wells, Hodgson 1-17 and C Double D 1-16. Both wells are expected to be completed within 2 weeks. These two wells lie approximately midway between the Durler 2-21 and the Levens 2-31 wells in the Syracuse Project. The completion of these two wells will provide more visibility and insight on the production capacity of the Syracuse Project, as wells on the outer ends and in the center of the project will have been completed.
Levens 4-31, T Spiker 1-17, Weaver 1-15 Ready for Completion Phase
In another significant milestone, VVC announces that all the necessary steps have been taken to prepare the Levens 4-31, T Spiker 1-17, and Weaver 1-15 wells for the completion process. The successful perforation of these wells will mark another achievement in the Project's development phase. The completion process for these wells is expected to begin before the end of the year.
A Continued Commitment to Sustainable Practices
VVC remains dedicated to environmentally responsible practices. The Company's operations are conducted with the utmost regard to ensuring sustainability, minimal environmental impact and adherence to the highest industry standards and best practices.
About VVC Resources
VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC) and on the OTC Market (OTCQB:VVCVF). To learn more, visit our website at: www.vvcresources.com .
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact:
| Patrick Fernet - (514) 631-2727 E-mail: pfernet@vvcexploration.com | or | Mike Culver - (202) 531-6559 E-mail: info@vvcresources.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
2369 Kingston Road, PO Box 28059 Terry Town, Scarborough, ON M1N 4E7 – Tel: 416-619-5304
FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", "strategy", "success" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others: will provide significant guidance in further development; will likely take place over 8 to 10 weeks … will gain a much better understanding … of the overall project; are expected to be completed within 2 weeks; completion of these two wells will provide more visibility and insight; The successful perforation of these wells will mark another achievement in the Project …; completion process for these wells is expected to begin before the end of the year.
Such forward-looking information or statements are based on several risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding acquisitions, production of helium, future development and growth, plans for and completion of projects by Company's third-party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, without limitation, operational risks in the completion of Company's anticipated projects, delays or changes in plans with respect to the development of Company's anticipated projects by Company's third-party relationships, risks affecting the ability to develop projects, risks in legislative changes in the applicable jurisdictions, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, risks in decrease of price of helium and copper. No assurances can be given that the efforts by Company will be successful.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements, except as required by law.
Investors are cautioned that notwithstanding the expectations described herein, there can be no assurance that the plans described herein will be completed as proposed. Trading in the securities of VVC should be considered highly speculative. All forward-looking statements contained in this press release are expressly qualified in their entirety by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca ).
