Golconda Resources Ltd. Provides Status Report on Cold Lake First Nations Joint Venture
Published : August 26, 2013
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Market | Oil | Recovery | Report |

CALGARY, ALBERTA--(Marketwired - Aug. 26, 2013) - Golconda Resources Ltd. (the "Corporation" or "Golconda") (News - Market indicators) is pleased to provide an update on its Cold Lake First Nations Joint Venture. The first of the ten oil wells to be drilled on Cold Lake First Nations Lands pursuant to our Joint Venture was drilled in March, 2013. This well was completed in the prospective Lloydminster formation in April 2013. Refer to our release of March 27, 2013 for additional details. The production test of the Lloydminster zone concluded that the zone was too heavy to be a primary recovery candidate. In July, 2013 the Lloydminster zone was plugged back, and the Sparky zone was completed. Based on field estimates, the well is now producing approximately 25 barrels of heavy oil per day with a sand cut of approximately 9 barrels per day. The production rate and sand cut are anticipated to improve over the course of the next three to six months based on production from offsetting wells in the area.

The Joint Venture drilled and cased the second well of the program earlier in August, 2013 and encountered the potential of several productive zones. The well has been completed in the Sparky formation and placed on production test.

The Joint Venture has received preliminary approval from Indian Oil and Gas Canada (IOGC) for the next three wells of the program, and it is expected that these three wells will be drilled in late summer/early fall of 2013.

Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. All statements included herein, other than statements of historical fact, constitute forward-looking information and such information involves various risks and uncertainties. In particular, this press release contains forward-looking statements pertaining to the expected production rate and sand cut of the well improving over the course of the next three to six months and the expected drilling schedule of the next three wells. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of certain assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. In particular, with respect to forward-looking statements contained in this press release, the Corporation has made assumptions regarding, among other things, the comparability of its well to offsetting wells in the area. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Golconda Resources Ltd.
David Orr
(403) 539-4440
dorr@golconda.ca
www.golcondaresources.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Golconda Resources Ltd

EXPLORATION STAGE
CODE : GA.V
ISIN : CA38046F1027
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Golconda Res. is a silver and gold producing company based in Canada.

Golconda Res. holds various exploration projects in Canada.

Its main exploration properties are SOUTH MONITOR, 4 ACES, SHULIN LAKE, RALSTON VALLEY, MERGE, MONITOR FLAT, WAPAWEKKA, ENNIS LAKE, SHULIN LAKE and WAPAWEKKA WEST in Canada.

Golconda Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 85.4 millions as of today (US$ 67.5 millions, € 59.6 millions).

Its stock quote reached its lowest recent point on July 10, 2015 at CA$ 0.01, and its highest recent level on June 04, 2021 at CA$ 1.18.

Golconda Res. has 133 509 992 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Golconda Resources Ltd
9/19/2012Provides Update Regarding Debt Financing
5/18/2011Announces the Issuance of a Secured Debenture and Operations...
Nominations of Golconda Resources Ltd
2/22/2011Appoints Mr. David Orr as New President
2/22/2011Appoints New President
Project news of Golconda Resources Ltd
5/14/2013Announces Asset Sale and Production Update
10/24/2012Announces Reserves Results and Resumption in Trading
Corporate news of Golconda Resources Ltd
7/22/2015Goldonda Resources Ltd. transfers to NEX
4/1/2015Golconda Resources Ltd.: Corporate Update
2/23/2015Golconda Resources Ltd. Completes Sale of Cold Lake Joint Ve...
1/23/2015Golconda Resources Ltd. Announces Meeting Results
1/5/2015Golconda Announces Disposition
12/23/2014Golconda Resources Ltd. Announces Additional Cold Lake Joint...
12/12/2014IIROC Trading Resumption - GA
12/12/2014Golconda Resources Ltd. Agrees to Sell Cold Lake Joint Ventu...
12/12/2014IIROC Trading Halt - GA
4/30/2014Golconda Resources Ltd.: Cold Lake First Nations Joint Ventu...
10/16/2013.: Initial Sale of Oil Production by Cold Lake First Nations...
8/26/2013. Provides Status Report on Cold Lake First Nations Joint Ve...
5/24/2013Announces Closing of Asset Sale
3/27/2013.: Corporate Update- Drilling Completed
3/22/2013.: Corporate Update- Drilling to Commence
9/6/2012Provides Update Regarding Joint Venture and Announces Propos...
6/15/2011Announces Limited Partnership With Birch Narrows First Natio...
6/7/2011Provides Update to Annual General and Special Meeting Matter...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (GA.V)Other OTC (GOLCF)
0.640+0.00%0.001+0.00%
TSX-V
CA$ 0.640
12/08 14:41 -
0%
Prev close Open
0.640 0.640
Low High
0.640 0.640
Year l/h YTD var.
0.510 -  1.20 -31.91%
52 week l/h 52 week var.
0.510 -  1.20 6,300.00%
Volume 1 month var.
4,500 12.28%
24hGold TrendPower© : -30
Produces
Develops
Explores for Diamonds - Gold - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20210.00%1.180.64
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 6.62-1.63%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.45-1.61%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.14+0.64%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.93+0.00%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.99+1.02%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.04+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.35+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 10.88+1.59%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.42-4.49%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+6.06%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.69+1.51%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 44.91-0.47%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :