West Canyon Energy Provides Update on Carbonera Block
12 February 2009 - 6:56AM
Business Wire
West Canyon Energy Corp. (the "Company") (OTCBB:WCYN), an
independent oil and gas exploration and production company
headquartered in Houston, Texas, and focused on the strategic
exploration and development of international and domestic,
high-impact energy projects, is pleased to announce that we have
finished a 3D seismic shoot on our Carbonera Block Project in the
Catatumbo Basin in Colombia. The 60 km seismic program is currently
being reprocessed and will be evaluated to determine future
drilling locations in an already successful basin. In addition, the
Company expects to begin drilling the next well in Carbonera during
the second quarter of this year. Further development plans include
the workover of 3 wells and continued seismic work. West Canyon
President Shane Reeves stated, �We are pleased to have the
Carbonera Block Project moving forward and we are expecting to see
positive results from these efforts in the near future.�
Through its wholly-owned subsidiary, PetroSouth Energy Corp.,
West Canyon holds a 6% working interest in the Carbonera
Exploration and Exploitation Contract as well as participation in
three future exploration wells. The Carbonera Block is located in
the Catatumbo Basin, which has had substantial oil production to
date with further potential substantial additional production.
Covering roughly 64,000 acres, the block represents substantial
potential recoverable reserves of natural gas.
About West Canyon Energy Corp.
West Canyon Energy Corp. is a publicly traded independent Oil
and Gas exploration and production company headquartered in
Houston, Texas (NASDAQ OTC BB: WCYN). The Company's mission is to
provide new and secure energy solutions for America while
increasing shareholder value through the strategic exploration and
development of domestic, high-impact energy projects. In line with
the Company's focus, West Canyon will continue to expand its
portfolio of continental US prospects through the use of property
acquisition and operating agreements aimed at minimizing capital
expenditures. Shareholders and prospective investors are encouraged
to visit West Canyon Energy's website: www.westcanyonenergy.com and
subscribe to the email newsletter. Please feel free to call
investor relations toll-free at 1-888-977-6884 to receive a full
corporate investor's package.
On behalf of the Board
Shane Reeves, President and Chairman
Forward-Looking Statements
This news release contains "forward-looking statements", as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
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 60 km seismic
program being reprocessed and its evaluation to determine future
drilling locations, that the Company expects to begin drilling the
next well in Carbonera during the second quarter of this year, or
that further development plans include the workover of 3 wells and
continued seismic work.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
oil and gas exploration; changes in reserve estimates if any; the
potential productivity of our properties; changes in the operating
costs and changes in economic conditions and conditions in oil and
gas exploration. These forward-looking statements are made as of
the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that the beliefs,
plans, expectations and intentions contained in this press release
are reasonable, there can be no assurance those beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our current
and periodic reports filed from time-to-time with the Securities
and Exchange Commission.
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