ENCANTO POTASH CORP. DISCLOSES INITIAL 3D SEISMIC RESULTS AND HIRES BARLON ENGINEERING TO OVERSEE MUSKOWEKWAN DRILL PROGRAM Posted on: Wed, 25 Aug 2010 09:15:00 EDT
Symbols: EPO.V, ENCTF.PK
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VANCOUVER, Aug. 25, 2010 (Canada NewsWire via COMTEX) --
TRADING SYMBOL: TSXV EPO.V
Encanto Potash Corp. ("Encanto") is pleased to announce the initial interpretations of results from its 65 square kilometre 3D survey over the Muskowekwan First Nation Lands in central Saskatchewan.
Boyd PetroSearch ("Boyd") has been analyzing the data for approximately 4 weeks and results to date support the findings of the original 2D survey which was acquired in early 2009. From seismic interpretation the Prairie Evaporite Formation appears for the most part to be continuous and structurally undisturbed over the majority of the Muskowekwan Home Reserve. The nature of the beds combined with the encouraging results (3.6 meters at 25.2% K(2)O in the Patience Lake Member and 2.4 meters at 25.5% K(2)O in the Belle Plaine Member) from the core analysis of the potash members encountered in Encanto's initial Lestock 2-9 test hole are sufficient to warrant further delineation drilling on the Muskowekwan Project. Investors are invited to review the report on the Company's website at www.encantopotash.com or by clicking on the following URL: http://files.newswire.ca/509/BoydpptWebsite.pdf
Agree WPX is also very attractive. Of course I don't like "additional" royalties (nobody would), the thing about Encanto that I *do* like, though, is the short-term exploration results (Dec) and 43-101 (Q1 2011). At that point they expect a "revaluation" to occur -- whether or not that has already happened is subject to debate... However if the results and 43-101 exceed expectations investors could be happy. Good luck.
Why invest in a company that has to pay "additional" royalties....compared to ,say WPX(Western potash)...which just received 2 significant institutional investments into the company's shares and has applied to be listed on the TSX. Fo me...I feel more comfortable investing in a company that the big institutions invest in...not in a company where you have to pay out "royalties" to "partners".
You're clueless about both the agreement with the First Nation group and the company as a whole, especially the potential amount of potash on all the land they own. You're correct, you should not be an investor in something you do not understand.