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Posted: Wednesday Oct 5 11:08:43AM 2005
Trivello finalizes Keg River Reef JV agreement
2005-10-05 12:39 ET - News Release
Mr. Arndt Roehlig reports
TRIVELLO SIGNS FARMOUT AND JOINT VENTURE AGREEMENT FOR POTENTIAL KEG RIVER REEF GAS PROJECT
Pursuant to news in Stockwatch on Aug. 31 and Sept. 13, 2005, Trivello Ventures, Inc. has signed the farmout and joint venture agreement to participate with a 20-per-cent working interest in a northeastern British Columbia potential Keg River Reef gas prospect. The project is located approximately nine miles from the Yoyo gas field that has produced in excess of 1.5 trillion cubic feet of gas.
The company has issued 100,000 shares and made a payment of $10,000 acquire a 20-per-cent working interest to earn a 12-per-cent net interest in the petroleum and natural gas leases in northeast British Columbia known as the Yoyo prospect. The company shall earn 12-per-cent net working interest by paying 20 per cent of future lease rentals and future exploration expenses. The property is subject to a 3-per-cent gross overriding royalty.
About the Yoyo prospect
A major oil company drilled a test well on the Yoyo prospect in a backreef position due to an alternative seismic interpretation based on a perceived thinning between the Jean Marie and Muskwa formations. At the time of drilling the Yoyo prospect test well, it was alternatively argued that the character change in the Muskwa on the flank of the reef was the cause of the perceived thinning and this condition was more likely an expression of gas-charged shales within the Muskwa associated with fractures along the reef flank. Indeed gas was encountered in the Muskwa shales during the drilling of the well.
The prospect lands seismic data indicates evidence of possible Keg River island reef, the updip edge of the Keg River anomaly is within a few hundred metres of the existing borehole. The well should then be re-entered from a point above the Muskeg formation and whipstocked 300 to 400 metres westward in order to test the Keg River anomaly. The existing infrastructure, facilities and borehole re-entry program will substantially reduce drilling cost and risk.
Posted: Friday Sep 23 7:48:34AM 2005
Another strong start to trading today, the march goes on :)
Posted: Friday Sep 23 7:46:21AM 2005
Consider TVR officially in break-out mode: no resistance...