Cardiff Energy Corp. Announces Clayton #1H Initial Flow Rate Results
Vancouver, BC / TheNewswire / December 22 2015 - CARDIFF ENERGY CORP. (the "Company") (TSX-V: "CRS", Frankfurt: "C2Z.F", US Pinksheets: "CRRDF") is pleased to announce that the Operator, Eastern Shelf Operating LLC, has completed an initial flow test on the Clayton #1H reporting an initial flow rate of 275 Barrels of Oil Per Day without any stimulation to the formation. Furthermore, early in the New Year the Company has plans to apply an acid treatment to the Clayton #1H which has the potential to substantially increase the flow rate.
With this exciting news in hand the Company has pioneered the first Gardiner Lime horizontal well in Runnels County, Texas. Based on the initial flow test the Clayton #1H has met the Company's expectations and will transition the Company in short order from a Junior Explorer to a Junior Producer in Texas.
Jack Bal, President and CEO of Cardiff Energy Corp., states "All along we believed that the Clayton #1H would be a huge success. We stuck to our business plan and have provided the necessary proof to support the next phase of our growth. With multi-zone opportunities on the Company's current leases, additional leases in the surrounding vicinity being secured and a follow up drilling program being finalized the Company is set to enter a significant growth phase."
To learn more about the Company and the drilling of the Clayton #1H horizontal well please visit:
The Company holds a 70% working Interest ("WI") in the Clayton #1H and their JV Partner Equitorial Exploration Corp. holds a 30% WI. The Company holds a 100% WI in the Bearcat #4.
About the Company
Cardiff is an emerging junior oil and gas company engaged in the acquisition, exploration, development, and production of oil and gas properties. Cardiff is listed on the TSX Venture Exchange under the symbol CRS. For additional details please visit Cardiff's website at www.cardiffenergy.com
For additional information contact:
Jack Bal, President and CEO
Cardiff Energy Corp
ON BEHALF OF THE BOARD OF DIRECTORS
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements relating to the future operations of the Company. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. 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. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.
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