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Mooncor Announces Acquisition of Additional Acreage in Hamburg Area at Public Offering of Crown Petroleum and Natural Gas Rights
CALGARY, April 30 /CNW/ - Mooncor Oil & Gas Corp. ("Mooncor") is pleased to announce that it has acquired 46,720 acres (73 sections) of 100% working interest land on its previously announced Hamburg Muskwa shale gas play in northern Alberta. This latest acquisition increases Mooncor's total land position on this play to 103,680 acres (gross and net) and should, therefore, increase Mooncor's total estimate of Contingent Resources and Prospective Resources and Recoverable Gas-In-Place at Hamburg. Mooncor will engage DeGolyer and MacNaughton Canada Limited to update its National Instrument 51-101 compliant estimates of Contingent and Prospective Resources and corresponding Recoverable Gas-in-Place shortly.
Business of Mooncor Oil & Gas Corp. Mooncor Oil & Gas Corp. is a junior oil and gas exploration and development company with unconventional shale gas, light oil and heavy oil projects in Saskatchewan, Alberta and southwestern Ontario. Mooncor is focusing on its shale gas opportunities with a current emphasis on the high impact proven shale gas play at Hamburg. Hamburg is Mooncor's newly discovered southeast extension of the Horn River Basin Muskwa shale system into northwest Alberta.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Mooncor believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Mooncor disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
For more information please contact:
Richard Cohen Mooncor Oil and Gas Corp. Vice-President (Corporate Development) Tel: (905) 882-4422 rcohen@mooncor.com
Jason Monaco First Canadian Capital Corp. Tel: (416) 742-5600 jmonaco@firstcanadiancapital.com
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