Norwood Spuds Another Well in Nicaragua

Norwood Resources Ltd. has spudded a second well on its onshore concession in Nicaragua.

The Las Mesas Gutierrez # 1 is located 11 kilometers from the San Bartolo Cano # 1. The same sand packages identified at San Bartolo are indicated on seismic at Las Mesas and should be encountered at shallower depths because the location is structurally higher. The company has also decided to deepen the Las Mesas well to 8800' from the original TD of 7300' to test the lower sands of the Tertiary Brito Formation. A new custom bit package has been designed by Smith Tools based upon the logs from San Bartolo and drilling rates at Las Mesas are expected to improve as a result.

Upon reaching total depth at Las Mesas and based on positive logging results, the company will immediately move to complete and test both wells for commerciality.


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