CALGARY, ALBERTA--(Marketwired - Nov. 9, 2015) - Tuscany Energy Ltd. (TSX VENTURE:TUS) ("Tuscany" or the "Company") reports that in the second half of November 2015 the Company plans to commence drilling operations on a horizontal well targeting a potential heavy oil Dina structure on its Winter prospect in Saskatchewan.
The Winter HZ 191/05-36-042-25W3M well is expected to commence drilling on November 20, 2015. If successful, the Company plans to have the well on production by the middle of December 2015.
Tuscany also plans to shoot seismic over its Sparky prospect at Macklin, Saskatchewan, to help identify the potential upside of this prospect. While the Company continues to adhere to its plan of minimizing expenditures during this oil price downturn, Tuscany is undertaking these expenditures at this time to meet the obligations of a flow-through share issue completed in December 2014.
The Company also announces that it plans to release its third quarter 2015 financial and operating results after the market closes on November 26, 2015.
Please refer to Tuscany's website at www.tuscanyenergy.com for more information on the Company's Evesham and Macklin fields, additional reserve information and other prospects in Alberta and Saskatchewan.
Forward-looking statements: This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, without limitation, this news release contains forward-looking statements pertaining to the Company's plans to commence drilling of its Winter well and shoot seismic at Macklin.
Forward-looking statements or information are based on a number of material factors, expectations or assumptions of Tuscany which have been used to develop such statements and information but which may prove to be incorrect. Although Tuscany believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Tuscany can give no assurance that such expectations will prove to be correct.
NEITHER THE 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.
(November 9, 2015 - 9:02 AM EST)
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