Curlew Acquires Interests in Neveda
Curlew Lake Resources announces it has acquired a 100% working interest in 11,590 acres (over 18 square miles) of oil and natural gas lease rights in the Antelope Valley area of Eureka County, Nevada. The leases were purchased from Royalon Prospection, headed by Michael Walker of Vancouver, B.C.; who acquired the leases from the BLM after extensive investigation of the area. The 100% working interest is subject to BLM and Vendor royalties of 20%, resulting in 80% net revenue leases.
Management feels this acquisition puts Curlew Lake in a good position in an increasingly active oil exploration area. Curlew Lake published details on its website (www.curlew-lake.com) in 2004 of an article written by Dr. Alan Chamberlain, Ph D. entitled "Elephant Hunting in Nevada", on the subject of potential oil reserves in the Great Basin of Nevada. Dr. Chamberlain is an independent geologist who has spent 30 years studying this area. His work, together with information from a number of other sources, has influenced Curlew Lake's interest in this "frontier type" oil exploration area. Dr. Chamberlain's article specifically referred to one well in the Grant Canyon field of Nevada, which flowed 4000 barrels a day for ten years, and has now produced more than 15,000,000 barrels of oil since its discovery in 1983. Based on Dr. Chamberlains geological interpretations, which "speculates that oil seeping from these potential giant fields is probably the source for the commercial oil seep fields in Nevada", management of Curlew Lake is of the opinion that this area has significant potential.
Recently Curlew Lake announced its listing on the U.S. Pink Sheet
Market. Curlew Lake will continue to work towards an OTC BB listing
in coming months.
In order to fund the current program and other corporate activities, the company has arranged a private placement of 1,550,000 units at $0.07 per unit for gross proceeds of $108,500. Each unit is comprised of one common share of the Company, and one share purchase warrant entitling the Subscriber to acquire an additional common share at a price of $0.10 per share, exercisable at any time up to one year from the date of issuance. The securities are subject to a hold period in accordance with regulatory policies.
Curlew Lake's philosophy is to evaluate and participate in lower risk Oil and Gas projects, which, combined with long-term, higher risk, high reward properties adds balance to the corporate portfolio. Information on this Project and others are available at www.curlew-lake.com under the operations section.