Sun Cal Energy Inc. Announces Drilling Activity
Sun Cal Energy Inc. (OTCBB:SCEY), an energy exploration company focused in the Southern San Joaquin Valley of California and the Anadarko Basin of Oklahoma, is pleased to announce that a deep development gas well has been spudded and is currently being drilled on the Company’s Hobart lease interest in Washita county, Oklahoma.
Sun Cal Energy Inc owns a 1.5% gross overriding royalty interest in the 1211 acre Hobart prospect strategically located in the Anadarko Basin and part of the Springer Morrow play — the largest such play in the State and Mid-Continent. The well, the Sturgeon.1-11 is set to test through the Springer formation and is targeting multiple pay zones. Operated by Marathon Oil, the Sturgeon 1-11 to date has successfully reached a current depth of 17,400 feet with a total authorized depth of 20,000 feet.
The target depth is below the Springer Morrow, which has proved to be very productive in Oklahoma and Texas. The Company is optimistic that the Springer Morrow will be productive, noting that there are gas bearing shallower zones which may also be commercial. No value has been assigned, pending definitive testing.
Commenting on drilling progress to date, George Drazenovic, President and Chief Executive Officer of Sun Cal Energy Inc. states: “We are excited about the drilling activity on the Hobart lease as we believe that it continues to offer significant potential for development. Today’s exploration, drilling and production technologies increase the success in finding significant new reserves and given the established regional infrastructure in Oklahoma, enable new production to be brought on quickly. Marathon Oil continues to demonstrate its ability to leverage these advantages. Sun Cal Energy Inc. will continue to seek new growth and investment opportunities in the oil and gas sector, and thus maximize shareholder value.”
Further Information
Shareholders and prospective investors are encouraged to visit Sun Cal Energy’s website: www.suncaloil.com and download Sun Cal Energy’s Investor Summary. Please feel free to call investor relations toll-free at 1-800-798-8334 to receive a full corporate investor’s package.
About Sun Cal Energy Inc.
Sun Cal Energy Inc. is a publicly traded independent oil and gas exploration company with headquarters in Calgary, Alberta, and an operational office in San Francisco, California. Sun Cal Energy aims to secure and develop a portfolio of oil and gas properties throughout America. The company is strategically placed in the Southern San Joaquin Valley of California and in the Anadarko Basin of Oklahoma. Sun Cal Energy Inc. trades under the ticker symbol: SCEY – “Sun Cal Energy Inc. — Providing Energy Solutions to America”.
On behalf of the Board
George Drazenovic, President and CEO
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as “expects”, “intends”, “plans”, “may”, “could”, “should”, “anticipates”, “likely”, “believes” and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company’s belief that Sun Cal Energy Inc. can identify and successfully negotiate leases for oil and gas properties in California and Oklahoma, and that the Company can participate in the exploration of those properties. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.