Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2012) - Thunderbird Energy Corp. (News - Market indicators)(OTCBB:TBDYF) (the "Company") today announced that further to the Company's news release dated October 9, 2012, the build-out of the Gordon Creek infrastructure is now substantially complete, the well sites are prepared and equipped, and the Company has begun the process of bringing the wells online through our upgraded compression facility. The Company anticipates providing a further update in early December once all of the wells are online and initial production rates have begun to stabilize. Although issues with certain suppliers have caused minor delays in recent weeks, the Company continues to be encouraged by the progress of the operations.
Thunderbird is also pleased to announce the acquisition of approximately four sections (2,479 acres) of new mineral leases in the Gordon Creek area. These lands were acquired at a BLM mineral rights auction held in Salt Lake City on November 13, 2012 and represent an approximate 20% increase in Thunderbird's Gordon Creek land position. This new acreage adds up to 18 new locations and brings our undrilled location inventory- based on a four well per section density - to approximately 85. Of those locations, 47 are surveyed and in the advanced stages of surface acquisition, permitting and licensing.
Thunderbird Energy is a Canadian-based oil and gas exploration and production Company with interests in the US Rockies and mid-continent regions.
Caution Regarding Forward- looking information
Information in this news release respecting anticipated petroleum and natural gas production, as well as the Company's proposed development operations constitutes forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, expectations, or beliefs as to future events or results are believed to be reasonable based on the information currently available to the Company. The Company does not undertake to update any such forward-looking statements unless required by applicable securities legislation.
Statements including forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company and its operations to be materially different from estimated costs or results expressed or implied by such forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.