Curlew Lake Resources Planning Private Placement

Curlew Lake Resources Inc. (TSX VENTURE:CWQ.V; PINK SHEETS: CWLXF) is planning a private placement of 7,500,000 flow-through units to raise a total of $1,500,000.

The flow-through units will be priced at $0.20 per unit. The units will consist of one flow-through common share and one-half flow-through share purchase warrant. Each full share purchase warrant entitles the holder to acquire one flow-through common share of the Company for a period of twelve months at a price of $0.30 per share.

Curlew Lake Resources Inc. is planning to use the funds to complete the first stage of the Metis Natural Gas drilling program. The operator has begun site preparation. Based on conservative estimates a production rate in the range of 6-10 mmcf/day in total is expected for the initial 8 well program (approx. 330-550 BOE net to Curlew Lake). The plans provide for the initial wells to be in production around year-end 2006.


Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours