Golden Opportunity Updates Prospects of New Montana Well
|Tuesday, July 13, 2004
Golden Opportunity Resources has been informed by the company's joint venture partner and project operator, Big Snowy Resources LP, that the drilling of a well located 6,000 feet northwest of the hole Golden Opportunity is set to drill has been completed to target depth. The Bolero 1-23 Well Bolero 1-23 well in central Montana's Wagonbox field has been cased and cemented. The primary target, the Tyler C Sand, was successfully intersected at 2,830 feet to 2,860 feet (863 to 872 metres).
Schlumberger Oilfield Services Inc. completed two log reports to ensure accuracy of the data and has provided estimates for the potential of oil and gas in each of the five zones encountered. All five zones demonstrate potential commercial-grade and significant quantity of hydrocarbons (oil and gas), which is further corroborated by similarities to other neighboring offset wells, both within 400 feet (122 metres) of the Bolero 1-23 well.
President of Golden Opportunity Resources William Morton stated "We at Golden Opportunity are extremely encouraged by the recent discovery made just 6,000 feet from our hole which is set to be drilled in the next 10 days. Big Snowy has advised the company that the discovery hole is in the same Tyler formation as Golden Opportunity's hole to be drilled. This recent development just affirms our belief that the program we are set to embark upon is first rate. We are pleased to be working with Big Snowy and their team of experts with vast experience in this area."
Golden Opportunity Resources Inc. is a junior oil and gas exploration company focused on finding and developing undervalued oil and gas assets worldwide. Our plan is to build a solid base of core projects that provide recurring monthly cash flows and on occasion enter into wildcat high risk/reward wells to add the potential of aggressive growth in our company for our shareholders. We are extremely excited about the future prospects of the company and look forward to growing the business with our shareholders for years to come.