PetroWorth Resources announced today that it has finished drilling an exploration well to a total depth of 967 metres in the Chin Coulee area of southern Alberta. Although the well did encounter reservoir quality sands in the targeted Sawtooth Formation, these sands did not contain commercial quantities of hydrocarbons. As a result, the well has been plugged and abandoned. PetroWorth and its partners will continue to evaluate exploration opportunities on their Alberta lands.
In the meantime, PetroWorth will focus on drilling an oil exploration well on its Lake Ainslie Block property in Cape Breton, Nova Scotia within the first half of 2012.
PetroWorth Resources Inc. is a junior oil and gas exploration company with properties in Alberta and Eastern Canada. The strategy of the company is to conduct aggressive exploration drilling programs on these permitted properties, both in-house and through advantageous farm-in arrangements.
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