International Western Petroleum
("IWPO" or "The Company")
International Western Petroleum Announces Preparation to Drill First Well of 4-Well Programme, Bend Arch Lion A, Texas
18th November 2013, London, UK - International Western Petroleum Corporation (Ticker:Ticker::IWPO), the GXG-listed oil & gas exploration and production company with operations in Texas, is pleased to announce the start of a four well drilling programme on the prolific Bend Arch Lion Lease, Central West Texas.
IWPO has permitted the first four oil wells to be drilled one after another on the Bend Arch Lion Lease, which totals 777.5 acres. With the four wells permitted and the drilling pads already being built, the Company intends to drill each of the four wells to a total depth of approximately 4,700 feet. In addition, IWPO expects to encounter a total of five different pay zones in one well bore.
President & CEO Ross Ramsey stated, "Our staff and myself couldn`t be more excited to get the drilling started. We have already put the stakes in the ground at each actual drilling location. Our geology team has studied the Bend Arch Lion Lease in and out, from Hydrocarbon imaging, 2D seismic, 3D seismic, sub surface geology, and third party reserve analysis of this land is showing very positive faulting with trapped hydrocarbons. With 5 million barrels in reserve we can`t help but get excited. The drilling will start in early December. IWPO is proud to be drilling in the historic Bend Arch Region of Texas."
IWPO`s Chairman Dr. Benjamin Tran also commented, "To date, we have partially completed the fund raising for this $2.13 million dollar project and due to a high enthusiasm of oil and gas investors who actually visited our producing oil field, we expect to complete the raise by end of December."
About International Western Petroleum Corporation:
International Western Petroleum Corporation (GXG:IWPO) is a global oil & gas company specializing in exploration and lease acquisitions with a focus on North America. IWPO boasts a world-class team of petroleum engineers, scientists, geologists, and global marketers serving major oil & gas companies worldwide. For more information, please visit the corporate website: www.iwpetro.com
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Source: International Western Petroleum Corporation via Thomson Reuters ONE