Uranium Power Reaches Total Depth at Athabasca Oil Prospect

Uranium Power reports that the deep drilling program on the 7-32 well has successfully reached a depth of 1,975 meters (6,478 feet), leaving 175 meters (574 feet) to drill before reaching the primary target. Over the past 24 hours, the penetration rate was 3.25 meters (10.67 feet) per hour. Two additional gas shows have been intersected over intervals of 12 meters (39.4 feet) and 30 meters (98.5 feet) since the last progress report.

Warren Hunt, Consulting geologist and project founder, notes, "The oil, which has been identified from fractures in the core sample by the well site geologist, William Ghazar, may also be expected in more fracture zones to depth. The data compiled to date suggests that a source of the petroleum in the Athabasca Tar Sands may exist at depth. In addition, on reviewing the seismic data from the primary target, it may have porosity of 8% to 10%."

Doug Cannaday, President, reports that the drill should reach the top of the primary seismic target within the next few days, which is approx 500 meters (1650 feet) thick.