Persta Resources Discovers Targeted Reservoirs with Proven Oil/Gas Bearings in Voyager

Nov 07, 2017 19:46 JST

Source: Persta Resources Inc.

HONG KONG, Nov 07, 2017 - (ACN Newswire) - Persta Resources Inc. ("Persta" or the "Company," stock code: 3395), a Calgary-based energy company principally engaged in natural gas and crude oil exploration and production in Western Canadian Sedimentary Basin, with a focus on natural gas, is pleased to announce that the Company has successfully discovered three targeted reservoirs of proven oil/gas bearing at different depths through a series of exploration activities in the area of Voyager since its listing on March 10, 2017.

The three targeted reservoirs of oil/gas bearing at different depths are respectively located at (1) the Cardium formation at a depth of approximately 2,400 meters, (2) the Mountain Park formation at a depth of approximately 2,900 meters, and (3) the Wilrich formation at a depth of approximately 3,200 meters.

Persta currently holds 23,680 net acres of land in the area of Voyager and owns 100% of the working interest in the area. These three newly discovered oil/gas-bearing targeted reservoirs provide a sustainable reserves base for the Company's long-term development.

About Persta Resources Inc. (stock code: 3395)
Persta Resources Inc. is a Calgary-based company principally engaged in natural gas and crude oil exploration and production, with a focus on natural gas. It focuses on long-term growth through acquisition, exploration, development and production in the Western Canadian Sedimentary Basin ("WCSB").

It commenced operations in March 2005 with the objective of building a successful Canadian natural gas and crude oil exploration, development and production company with a long-term business strategy. It acquired its first 6,400 net acres of land in an area in the WCSB in January 2007 known as the Alberta Foothills and drilled and commercially produced liquids-rich natural gas from its first deep well in this area in December 2008. Its natural gas and oil production rate has grown organically since then. As of December 31, 2016, it held 114,528 net acres of land in the WCSB, which it intends to explore through drilling in locations listed in its multi-year inventory.

For press enquiries:
Strategic Financial Relations Limited
Joanne Lam Tel: (852) 2864 4816 Email: joanne.lam@sprg.com.hk
Davis Li Tel: (852) 2864 4892 Email: davis.li@sprg.com.hk
Ovina Zhu Tel: (852) 2114 4955 Email: ovina.zhu@sprg.com.hk

Source: Persta Resources Inc.
Sectors: Daily Finance, Energy, Alternatives