NSR Nsr Resources Com Cad1

Northern Spirit Resources Inc. ("Northern Spirit" or the "Company") (TSX
VENTURE:NSR) is pleased to provide the following operational update.


As announced on July 17, 2014, the Company has drilled, completed and tested 3
horizontal wells (WI 100%) at Klein North. The wells were drilled from a common
surface pad, targeting Sparky medium gravity oil. Completion procedures included
multi-stage fracture stimulation in each well. All 3 wells are now being
equipped and the wells are expected to be on production in late August 2014.


Also as announced on July 17, 2014, at Klein South the Company has completed a
horizontal well (WI 55%) and has drilled and completed a vertical well (WI 86%),
each well targeting Sparky medium gravity oil. The horizontal well was
multi-stage fracture stimulated and is currently being equipped and is expected
to start production in August. The vertical well is undergoing evaluation. 


A non-operated horizontal well (WI 25%) was also drilled and cased targeting
Sparky medium gravity oil at Sounding Lake. Completion operations on the well
are expected to commence immediately. 


At Cadogan the Company recompleted a vertical well which is currently being
equipped for production, with production expected to commence in early August
2014.


Management is very encouraged with the results from the wells drilled and
completed to date, and looks forward to providing further information respecting
the productivity of the wells, including production testing information, in the
near future.


About Northern Spirit Resources Inc.

Northern Spirit Resources Inc. is a public oil and gas company active in the
exploration and development of oil and natural gas in East Central, Alberta.


ADVISORY ON FORWARD-LOOKING STATEMENTS: This press release contains certain
forward-looking information and statements within the meaning of applicable
securities laws. The use of any of the words "expect", "continue", "estimate",
"may", "will", "should", "believe", "plans", "cautions" and similar expressions
are intended to identify forward-looking information or statements. In
particular, but without limiting the forgoing, this press release contains
statements concerning the timing for certain wells drilled on its Klein and
Cadogan properties to be tied in and on production and the timing to announce
additional production information on such wells. 


Forward-looking statements or information are based on a number of material
factors, expectations or assumptions of Northern Spirit which have been used to
develop such statements and information but which may prove to be incorrect.
Although Northern Spirit believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should not be placed
on them because Northern Spirit can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties. In
particular, in addition to other factors and assumptions which may be identified
herein, no assurances can be given respecting: whether the Company's continued
exploration and development activities on its lands in the Provost will be
successful or that additional material volumes of petroleum and natural gas
reserves will be encountered, or if encountered can be produced on a commercial
basis; the ultimate size and scope of any hydrocarbon bearing formations on the
Company's lands; that additional drilling and completion operations at Provost
will be successful such that further development activities in this area is
warranted; that Northern Spirit will continue to conduct its operations in a
manner consistent with past operations; results from drilling and development
activities will be consistent with past operations; the general stability of the
economic and political environment in which Northern Spirit operates; drilling
results; field production rates and decline rates; the general continuance of
current industry conditions; the timing and cost of pipeline, storage and
facility construction and expansion and the ability of Northern Spirit to secure
adequate product transportation; future commodity prices; currency, exchange and
interest rates; regulatory framework regarding royalties, taxes and
environmental matters in the jurisdictions in which Northern Spirit operates;
and the ability of Northern Spirit to successfully market its oil and natural
gas products. 


Further, events or circumstances may cause actual results to differ materially
from those predicted as a result of numerous known and unknown risks,
uncertainties and other factors, many of which are beyond the control of the
Company, including, without limitation: changes in commodity prices; changes in
the demand for or supply of the Company's products; unanticipated operating
results or production declines; changes in tax or environmental laws, royalty
rates or other regulatory matters; changes in development plans of Northern
Spirit or by third party operators of Northern Spirit's properties, increased
debt levels or debt service requirements; inaccurate estimation of Northern
Spirit's oil and gas reserve and resource volumes; limited, unfavourable or a
lack of access to capital markets; increased costs; a lack of adequate insurance
coverage; the impact of competitors; and certain other risks detailed from
time-to-time in Northern Spirit's public disclosure documents. Additional
information regarding some of these risk factors may be found under "Risk
Factors" in the Company's Management Discussion and Analysis prepared for the
year ended December 31, 2013. The reader is cautioned not to place undue
reliance on this forward-looking information. The forward-looking statements
contained in this press release are made as of the date hereof and Northern
Spirit undertakes no obligations to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Northern Spirit Resources Inc.
(403) 269-1715


Northern Spirit Resources Inc.
Kevin R. Baker, Q.C.
President & Chief Executive Officer
Dir: (403) 476-7010


Northern Spirit Resources Inc.
John H. Cassels
Vice President Finance, Chief Financial Officer
& Secretary
Dir: (403) 476-7008

Nsr Resources Com Cad1 (TSXV:NSR)
Historical Stock Chart
From Mar 2024 to Apr 2024

Nsr Resources Com Cad1 (TSXV:NSR)
Historical Stock Chart
From Apr 2023 to Apr 2024