Feb 18, 2016
Cardiff Energy Corp. to Commence Acid Treatment of the Clayton #1H on Feb 22, 2016
CARDIFF ENERGY CORP. (the "Company") (TSX-V: "CRS", Frankfurt: "C2Z.F", US Pinksheets: "CRRDF") is pleased to announce that further to their news release dated February 5, 2016 the Line of Credit is now accessible and funds have been forwarded to the Operator for the acid treatment of the Clayton #1H and to put the well into production. At this time, equipment and the completion team are being mobilized to the site with the acid treatment commencing Monday February 22, 2016. The estimated time frame for the acid treatment is 10 days, at which time the Company will provide an update to the market.
Additionally, the Company would like to announce that their 6,000,000 Unit $0.05 Private Placement announced February 5, 2016 will be closing shortly. Funds raised from the Private Placement will be used for the Clayton #1H, evaluation of the next 2 well locations and for general working capital purposes.
Derek Stonehouse, VP Exploration of Cardiff Energy Corp., states "We are excited about the upcoming acid treatment of the Clayton #1H and are expecting a strong result. Runnels County is a multi-zone potential area and the Clayton #1H horizontal well is the first well of many identified opportunities. We are looking forward to near term oil production and cash flow to pursue more drilling prospects in the Runnels County area"
To learn more about the Company and the drilling of the Clayton #1H horizontal well please visit:
The Company holds a 70% working Interest ("WI") in the Clayton #1H and their JV Partner Equitorial Exploration Corp. holds a 30% WI. The Company holds a 100% WI in the Bearcat #4.
About the Company
Cardiff is an emerging junior oil and gas company engaged in the acquisition, exploration, development, and production of oil and gas properties. Cardiff is listed on the TSX Venture Exchange under the symbol CRS. For additional details please visit Cardiff's website at www.cardiffenergy.com
For additional information contact:
Jack Bal, President and CEO
Cardiff Energy Corp
ON BEHALF OF THE BOARD OF DIRECTORS
President and Chief Executive Officer
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains forward-looking statements relating to the future operations of the Company. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.
You can view the Previous News Releases item: Fri Feb 5, 2016, Cardiff Energy Corp. Secures Line of Credit, Announces Commencement of Acid Treatment of the Clayton #1H Well
You can return to the main News Releases page, or press the Back button on your browser.