Cardiff Energy Corp. Provides Clayton #1H and Corporate Update
Vancouver, BC / TheNewswire / CARDIFF ENERGY CORP. (the "Company") (TSX-V: "CRS", Frankfurt: "C2Z.F", US Pinksheets: "CRRDF") is pleased to provide a follow up to their October 19, 2015 news release. Lateral drilling of the Clayton #1H currently resides at 6500ft with the remaining footage to be completed this weekend.
Martin Energies, operator of the Clayton #1H states; "During the past few days of drilling numerous impressive gas kicks and oil shows were encountered. The deeper into the zone we drill the formation appears to be much richer in hydrocarbons. With drilling scheduled to be completed this weekend we are looking forward to testing the well."
The Company is also pleased to announce that Cardiff has acquired an additional 10% Working Interest ("WI") in the Clayton #1H bringing its WI to 60% and their JV Partner Equitorial Exploration Corp. has acquired an additional 15% bringing their WI to 30%.
Jack Bal, President and CEO of Cardiff Energy Corp., states "We are elated with the drilling results to date and are extremely excited to have increased our WI in Clayton #1H to 60%. With funding secured and the well scheduled to be completed this weekend we are looking forward to the initial flow test."
To learn more about the Company and the drilling of the Clayton #1H horizontal well please visit:
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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