CALIFORNIA OIL+GAS Reboundkandidat
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Friday February 2, 6:00 am ET
CALGARY, Alberta--(BUSINESS WIRE)--California Oil & Gas Corp. (OTCBB: COGC - News) is pleased to announce that March Resources has received approvals from Chile\'s Ministry of Mining and Energy for exclusive oil and gas exploration and development rights in the Pica North and Pica South blocks of the Tamarugal Basin of Chile. This area covers approximately 9,500 square kms (2,500,000 acres).
The approvals are in the form of Supreme Decrees, which are to be published in the Official National Gazette. March Resources has announced that it expects the definitive Special Operations Contract ("SPOC") for each of these areas to be finalized shortly. The purpose of the SPOC is to outline the exploration and development rights on the blocks, which are valid for a period of 35 years, and to detail the work commitments that are required for each of the two blocks.
As has been previously announced, California Oil and Gas has entered into a letter of intent with March Resources that will permit California Oil and Gas to farm-in on this exploration program. Under the letter of intent, California Oil and Gas must commit to drilling 2 wells to casing point in order to earn a 50% interest in Pica North. March Resources will contribute US$ 1 million per well, but California Oil and Gas will be responsible for the balance of the costs to bring each well to casing point. Completion and testing will be at the after earned interest. If California Oil and Gas earns in to Pica North, it will have the option to earn a 50% interest in the Pica South Block for a cash payment of $US 2 million. March Resources and California Oil and Gas intend to jointly manage the project through March Resources Chile. With the receipt of the Decrees, work has begun to prepare to drill the initial exploration wells as soon as practical after the execution of the SPOC.
On Behalf of the Board
John G. F. McLeod, President
Forward Looking Statement
Statements in this news release that are not historical facts are forward- looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analysis and on forecasts of Future results, estimates of amounts not yet determined and assumptions of management. Forward-looking statements in this news release include statements about the Company\'s belief that definitive Special Operations Contracts will be finalized shortly and that it can drill the required wells to casing point. The Company\'s actual results may differ materially from those anticipated in these forward looking statements due to any of a number of factors beyond the Company\'s control. These risks and uncertainties include, among other things, the risks that are inherent in oil and gas exploration and otherwise inherent in the Company\'s operations. These and other risks are described in the Company\'s Annual Report on Form 10-KSB and other filings with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
Contact:
California Oil & Gas Corp.
John G.F. McLeod, President, 403-261-1965
Ryan Mulhearn, Investor Relations, 604-733-2886
North America Toll Free: 1-866-733-2814
Email: caloandg@telus.net
www.caloilandgas.com
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Source: California Oil & Gas Corp.
"California Oil & Gas Corp. (OTCBB: COGC) announces the Haas-Hirsch (Krotz Springs) Unit Well #60 has already encountered what appear to be multiple commercial zones above the primary target horizon. These zones have produced elsewhere in the Unit, but are not depleted at this location. The main target zone, the 3rd Cockfield Sand has yet to be penetrated.
The well was spudded by the operator, Daybreak Oil & Gas Inc. on January 8, 2007 as a directional well toward a 3rd Cockfield Sand target identified from 3-D seismic about 150 feet updip from the KSU#40 well which commenced production at 8 MMCFD and which produced 10 BCF before bottom water encroachment. Intermediate 9⅝” casing was set at 9,810 feet, and while drilling ahead toward the 3rd Cockfield sand, two potentially commercial zones were encountered. While preparing to run a liner to isolate these over pressured zones, the drill string became stuck and the lower section could not be retrieved. After cementing the original borehole, the well was side tracked in the open hole section and the operator Is planning to run a 7” liner over the potentially productive intervals. Plans are then to drill ahead, penetrate and log the 3rd Cockfield sand, and set a production liner prior to testing..
John McLeod, President of California Oil & Gas stated “It is exciting to have encountered these zones with apparently virgin pressure. It is a plus that these zones are present and appear to be commercial. They have been produced elsewhere in the Krotz Springs Unit, but we were not sure whether or not they had been depleted at this location.In fact, one Unit well with similar log characteristics has produced 36 BCF from a correlative zone. While the presence of these zones has increased the degree of difficulty in drilling, they bode well for both the productivity and reserve potential of this well.”
COGC has a 25% Working Interest (BPO) in this Haas-Hirsch Unit Well # 60, which is being drilled directionally from the KSU #8 surface location. As such, facilities are available at the surface location which should expedite the tie-in and production of this well when completed and proved productive.
On Behalf of the Board
John G. F. McLeod, President
Forward Looking Statement
Statements in this news release that are not historical facts are forward- looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analysis and on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward-looking statements in this news release include statements about the Company’s belief that the drilling and testing of the current well can be successfully completed, and the well will be tied into existing facilities and pipelines at the surface location for production. The Company’s actual results may differ materially from those anticipated in these forward looking statements due to any of a number of factors beyond the Company's control. These risks and uncertainties include, among other things, the risks that are inherent in oil and gas exploration and otherwise inherent in the Company’s operations. These and other risks are described in the Company's Annual Report on Form 10-KSB and other filings with the Securities and Exchange Commission, which can be viewed at www.sec.gov. "
"We are still continuing to work with the Chilean government and hope to have the SPOC executed very shortly, once the SPOC is executed we will begin the construction process for the leases and would hope to spud the first well within 90 days of the signing of the SPOC."
Am 9.Mai soll die Unterzeichnung des Special Operation Contract (SPOC) sein.
April 30, 2007
California Oil & Gas Corp. (OTCBB: COGC) is pleased to announce that a signing ceremony for the execution of the definitive Special Operations Contracts (“SPOC”) with the Chilean government has been scheduled for May 9, 2007, in the city of Iquique. The SPOC outlines the exploration and development rights on the blocks, which are valid for a period of 35 years and will detail the work commitments required for each of the two blocks.
That SPOC is the final approval needed to begin exploration drilling for gas and oil on the Pica North and Pica South blocks in the Tamarugal Basin of Northern Chile. California Oil & Gas has an agreement to jointly explore these blocks, which cover approximately 3900 square miles (2,500,000 acres) with March Resources Corp.
COGC will earn a 50% interest in the Pica North project through its commitment to drill two wells to casing point. March Resources Corp.(March) will contribute US$ 1 million per well, with COGC responsible for the remaining well cost to casing point. Completion and testing will be shared 50%. Following earning in Pica North, COGC will have an option for a cash payment of $US 2 million to earn a 50% interest in the Pica South Block. March and COGC will jointly manage the project through March Chile Agencia. With the official signing of the SPOC, work will begin as soon as possible on the initial exploration wells. To this end a contract is being negotiated for a Canadian drilling rig and crew to be used for this project. Drilling could commence during the third quarter of 2007.
On Behalf of the Board,
John G. F. McLeod, President
Forward Looking Statement
Statements in this news release that are not historical facts are forward- looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analysis and on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward-looking statements in this news release include statements about the Company’s belief that the Special Operating Contract will be signed and that exploration operations can be commenced, including acquiring the services of a suitable drilling rig and crews. The Company’s actual results may differ materially from those anticipated in these forward looking statements due to any of a number of factors beyond the Company's control. These risks and uncertainties include, among other things, the risks that are inherent in oil and gas exploration and otherwise inherent in the Company’s operations. These and other risks are described in the Company's Annual Report on Form 10-KSB and other filings with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
May 10, 2007
CALGARY, Alberta -California Oil & Gas Corp. (OTCBB: COGC) is pleased to announce the following:
LOUISIANA
The Haas-Hirsch #1 (Krotz Springs Unit Well #60) has been completed in the lower of two potential zones. Nine feet of perforations over the 16 feet of log indicated pay in the Second Cockfield zone flowed at rates of approximately 900 mcf of gas per day during clean-up, with no water. The well was flowed for an initial period of 17 hours and was then shut-in to connect to permanent production equipment. Further testing and production will be conducted into the flowlines at the location with the produced gas going to sales. Current plans are to produce the well for several days and then conduct a pressure transient build-up test. Stimulation or other alternatives will be considered to increase production rates based on the results of the flow and build-up test.
CHILE
The definitive Special Operations Contracts (“SPOC”), with the Chilean government were executed May 09, 2007 at Palacio Astoreca, a National Monument in the city of Iquique. Representatives of March Chile Agencia , the Ministry of Mining and Energy, the Governor of Iquique, the Mayor of Pica and the Canadian Ambassador to Chile, were among the dignitaries who were on hand for the signing ceremony. The SPOC was the final approval needed before exploration drilling for gas and oil on the Pica North and Pica South blocks in the Tamarugal Basin of Northern Chile could begin.
The SPOC outlines the exploration and development rights on the blocks, which are valid for a period of 35 years, and detail the work commitments required for each of the two blocks. California Oil & Gas has an agreement with March Resources Corp. to jointly explore these blocks, which cover approximately 3900 square miles (2,500,000 acres).
Field work in the area and preparation of the drilling site will begin immediately in order to meet anticipated spud of the initial well in the summer.
On Behalf of the Board.
John G. F. McLeod,
President
California Oil & Gas Corp. Signs Agreement with Chevron
Contact: John G.F. McLeod, President Tel: (403) 261-1965
Ryan Mulhern, Investor Relations Tel: (604) 733-2886
North America Toll Free: 1-866-733-2814
Email: caloandg@telus.net
OTCBB: “COGC” www.caloilandgas.com
CALGARY, Alberta - California Oil & Gas Corp. (OTCBB: COGC) announces a Seismic Option Farm-Out Agreement (the "Agreement") with Chevron U.S.A. Inc. ("Chevron"). Under the terms of the agreement, Chevron will fund 100% of the cost of a 3-D Seismic Survey in the San Joaquin Basin in Southern California.
COGC's partners ("Partners") and Chevron will contribute approximately 16,000 and 3,000 gross acres of mineral leases respectively for a 33 square mile High Definition 3-D Exploration Seismic Survey. After processing and interpretation of the seismic data, COGC and the Partners will drill 3 wells on mutually agreed prospects. The Partners as a group and Chevron will then each hold a 50% interest in the lands and wells.
The 3-D High Definition Survey will be the first modern data acquisition over the survey area. Drilling targets are highly porous and permeable sandstone reservoirs containing 15 degrees API to 25 degrees API crude oils at depths of 1,200 feet to 3,000 feet, and are therefore relatively inexpensive to drill.
It is expected that the Seismic Survey will commence in the Third Quarter of 2007.
COGC has an option to earn a 12.5% interest (after recovery of 200% of costs) in the seismic area leases and wells by paying 25% of the cost of 3 wells in each of 3 prospect areas covered by the seismic survey.
California Oil & Gas Corp. will be the operator for the seismic survey and the drilling. Producing wells will be operated by Chevron utilizing their extensive facilities and personnel in the area. Crude oil will be sold to Chevron at posted market prices.
On Behalf of the Board
John G. F. McLeod, President
Forward Looking Statement
Statements in this news release that are not historical facts are forward- looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analysis and on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward-looking statements in this news release include statements about the Company’s belief that the completion and testing of the current well can be successfully completed, and the well will be tied into existing facilities and pipelines at the surface location for production. The Company’s actual results may differ materially from those anticipated in these forward looking statements due to any of a number of factors beyond the Company's control. These risks and uncertainties include, among other things, the risks that are inherent in oil and gas exploration and otherwise inherent in the Company’s operations. These and other risks are described in the Company's Annual Report on Form 10-KSB and other filings with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
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Wertpapier: CALIFORNIA OIL & GAS |
"November 20, 2007
California Oil & Gas Corp. acquires additional acreage in the San Joaquin Basin, California
Contact: John G.F. McLeod, President
Tel: (403) 261-1965
Ryan Mulhearn, Investor Relations Tel: (604) 733-2886
North America Toll Free: 1-866-733-2814
Email: caloandg@telus.net OTCBB: “COGC” www.caloilandgas.com
CALGARY, Alberta - California Oil & Gas Corp. (OTCBB: COGC) has acquired two separate blocks of oil and gas leases in the vicinity of its East Slopes project area in the San Joaquin basin in Southern California.
Each block covers an area of 320 acres and each contains an oil field that was drilled and produced in the 1940’s. The fields are expected to have several million barrels of 15 0API sweet crude oil remaining in place. California Oil & Gas has a 50% working interest in these lands (320 acres net) and will act as operator.
Based on data available from the previous production, the oil is contained in highly porous and permeable sandstone reservoirs at depths of 1,200 feet to 2,750 feet, and wells should therefore be relatively inexpensive to re-enter or to drill. Management expects that modern exploration and production methods should allow significant production to be recovered from these reservoirs.
These acquisitions increase the Company’s exposure to the San Joaquin basin. Robust oil prices, nearby markets, availability of services, existing infrastructure geared to heavy oil production and refining, all in an area where little modern exploration has been carried out in a prolific oil-prone basin make this an attractive place to explore and develop. Successful wells can be expected to be brought into production quickly.
On Behalf of the Board
John G. F. McLeod, President"
MannMannMann
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| Boardmail an "Chalifmann3" |
Wertpapier: CALIFORNIA OIL & GAS |
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Wertpapier: CALIFORNIA OIL & GAS |
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Ansonsten.... hoffe ich, daß eine tote Aktie doch noch mal zum Leben erweckt wird..... oder lege das ganze unter dem Stichwort "letzte Lebensgeister" mal ab.