Octagon 88 Resources Inc. - ISIN# US67572P1012
Octagon 88 Resources (OCTX) has acquired substantial conventional oil and heavy oil assets in Northern Alberta that have been substantially de-risked and thus at development stage. |
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Octagon 88 Resources Provides November 2014 Executive Summary Including Development Plans And Feasibility Studies
November 19th, 2014
(BUSINESSWIRE)—Zug, Switzerland Octagon 88 Resources Inc. (OCTX) is pleased to present the November 2014 Executive Summary, the summary is aimed to summarize completed drilling programs and future targets including feasibility studies to support Management's near and long term goals.
Summary of 2013/2014 Drilling Programs to date
- March 2013 - Bluesky 8-12 91-22-W5M – Drill Vertical and Core – completed
- March 2013 – Elkton 11-4 92 23 W5M – Drill Vertical and Core – completed
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October 2013 – Elkton 9-4 92 23 W5M – Drill Vertical, Core, plug back and drill
horizontal and production test. Completed - March 2014 – Bluesky 7-10 91-22 W5M – Drill Vertical, Core and production test - completed
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July 2014 – Bluesky 14 -23 91-22 W5M – Drill Vertical, Core, plug back and drill
horizontal and put on production. – drill completed. Well completed and will be put on production in near term.
CLICK HERE to view the complete Octagon 88 Resources executive summary November 2014.
Octagon 88 Resources Inc. is a development stage oil and gas company that has acquired light and conventional heavy oil assets in Northern Alberta.
The current program schedule entails working with the operator of these properties
CEC North Star to bring on production and cash flow through the company’s direct working interests, and indirect investments spread throughout the projects.
Octagon 88 Resources is the largest publicly traded shareholder of CEC North Star currently holding thirty-point seven (30.7%) of its shares.
Contact
Octagon 88 Resources Inc.
Hochtwachstrasse 4
6312 Steinhausen
Switzerland
Tel:(+41) 79 237 6218
http://www.octagon-88.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
Helvetic Prime
Alexander Baldi
Tel:(+41) 79-256-9534
www.helveticprime.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
Forward-looking Statements:
This press release contains forward-looking statements concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Forward looking statements in this press release include statements about our drilling development program. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the timing and results of our 2014 drilling and development plan. Additional factors include increased expenses or unanticipated difficulties in drilling wells, actual production being less than our development tests, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended June, 2013. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as "probable," "possible," "recoverable" or "potential" reserves among others, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our filings with the SEC.
Octagon 88 Resources Announces Bluesky Gething Horizontal Leg Completed
July 31st, 2014
(BUSINESSWIRE)—Zug, Switzerland Octagon 88 Resources Inc. (OCTX) is pleased to announce that since the company’s last operation update the operator has moved forward with drilling activity to move to primary production on the recently spudded Bluesky Gething well.
The first horizontal lateral from the well pad targeting the initial primary production zone in the Bluesky Gething pay zone has now been completed.
The horizontal portion was drilled 1050 meters into the pay zone. Octagon 88 Resources has received confirmation of an API higher than expected ranging from 12°to 14°.
“The service rig is currently being moved on site to swab the well in preparation for the installation of the pump.”
-Manning Project Operator
Octagon 88 Resources Inc. is a development stage oil and gas company that has acquired light and conventional heavy oil assets in Northern Alberta.
The current program schedule entails working with the operator of these properties CEC North Star to bring on production and cash flow through the company's direct working interests, and indirect investments spread throughout the projects.
Octagon 88 Resources Inc. is the largest publicly traded shareholder of CEC North Star currently holding thirty-point seven (30.7%) of its shares.
Contact
Octagon 88 Resources Inc.
Hochtwachstrasse 4
6312 Steinhausen
Switzerland
Tel:(+41) 79 237 6218
http://www.octagon-88.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
Helvetic Prime
Alexander Baldi
Tel:(+41) 79-256-9534
www.helveticprime.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
Forward-looking Statements:
This press release contains forward-looking statements concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Forward looking statements in this press release include statements about our drilling development program. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the timing and results of our 2014 drilling and development plan. Additional factors include increased expenses or unanticipated difficulties in drilling wells, actual production being less than our development tests, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended June, 2013. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as "probable," "possible," "recoverable" or "potential" reserves among others, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our filings with the SEC.
Octagon 88 Resources Announces Spudding Of First Horizontal Production Well
July 17th, 2014
(BUSINESSWIRE)—Zug, Switzerland Octagon 88 Resources Inc. (OCTX) is pleased to announce that the first horizontal productionwell 13-24-091-22W5on the Bluesky Gething formation has been spudded successfully.
The Manning Projects Operator reports:
“The firsthorizontal production well 13-24-091-22W5 was successfully spudded on Saturday, July 12, 2014, 12:13MST time.”
Octagon 88 Resources Inc. is a development stage oil and gas company that has acquired light and conventional heavy oil assets in Northern Alberta.
The current program schedule entails working with the operator of these properties CEC North Star to bring on production and cash flow through the company's direct working interests, and indirect investments spread throughout the projects.
Octagon 88 Resources Inc. is the largest publicly traded shareholder of CEC North Star currently holding thirty-point seven (30.7%) of its shares.
Contact
Octagon 88 Resources Inc.
Hochtwachstrasse 4
6312 Steinhausen
Switzerland
Tel:(+41) 79 237 6218
http://www.octagon-88.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
Helvetic Prime
Alexander Baldi
Tel:(+41) 79-256-9534
www.helveticprime.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
Forward-looking Statements:
This press release contains forward-looking statements concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Forward looking statements in this press release include statements about our drilling development program. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the timing and results of our 2014 drilling and development plan. Additional factors include increased expenses or unanticipated difficulties in drilling wells, actual production being less than our development tests, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended June, 2013. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as "probable," "possible," "recoverable" or "potential" reserves among others, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our filings with the SEC.
Octagon 88 Resources Announces First Horizontal Production Well Drill License Confirmed
June 24th, 2014
(BUSINESSWIRE)—Zug, Switzerland Octagon 88 Resources Inc. (OCTX) or “the Company” is pleased to announce that the Manning project’s operator has confirmed it has received the license to drill the first horizontal production well (W 7-10-91-22W5), one of a series of horizontal wells on the Bluesky Gething formation as previously advised.
Lease preparation on site has been concluded, based on rig availability the operator is now targeting to spud the well on July 15, 2014. This well will be the first of 5 horizontal wells that will be drilled from one well pad; the other four licenses are currently underway.
Each well targets the upper zones of the Bluesky Gething formation where the operator has experienced ideal primary production conditions by way of prior core results, lab testing and previous vertical production well testing.
The operator reports:
“Each well will be 800 to 1200 meters in length with expected results to be production of 150 to 200 barrels a day. The oil tested from the last vertical at AGAT labs showed a consistency of API in the range of 10.5 to 11.5 degrees which is known to be exploitable by Conventional Heavy Oil drilling technology.
After this first well is completed it will be cased and equipped for production with first oil to be sold expected by end of August.”
Octagon 88 Resources Inc. is a development stage oil and gas company that has acquired light and conventional heavy oil assets in Northern Alberta.
The current program schedule entails working with the operator of these properties CEC North Star to bring on production and cash flow through the company's direct working interests, and indirect investments spread throughout the projects.
Octagon 88 Resources Inc. is the largest publicly traded shareholder of CEC North Star currently holding thirty-point seven (30.7%) of its shares.
Contact
Octagon 88 Resources Inc.
Hochtwachstrasse 4
6312 Steinhausen
Switzerland
Tel:(+41) 79 237 6218
http://www.octagon-88.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
Helvetic Prime
Alexander Baldi
Tel:(+41) 79-256-9534
www.helveticprime.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
Forward-looking Statements:
This press release contains forward-looking statements concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Forward looking statements in this press release include statements about our drilling development program. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the timing and results of our 2014 drilling and development plan. Additional factors include increased expenses or unanticipated difficulties in drilling wells, actual production being less than our development tests, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended June, 2013. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as "probable," "possible," "recoverable" or "potential" reserves among others, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our filings with the SEC.