Decklar Resources Inc. Announces Operations Update on Oza-1 Well Re-entry
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Drilling rig for re-entry and testing operations has been contracted, with mobilization anticipated to commence next week.
Camp and logistics equipment required for Oza-1 well re-entry is currently being staged on site.
Long lead equipment items required to test and complete the Oza-1 well re-entry have been ordered and service contractors have been sourced and secured.
/EIN News/ TORONTO, April 08, 2021 (GLOBE NEWSWIRE)
Decklar Resources Inc. (DKL-TSX Venture)
(the “Company” or “Decklar”) and its co-venturer Millenium Oil & Gas Company Limited (“Millenium”) are pleased to announce that activities for the Oza-1 well re-entry at the Oza Oil Field have made significant progress. The Oza-1 re-entry represents the start of an aggressive field development of the Oza Oil Field through the Company’s wholly-owned Nigeria-based subsidiary, Decklar Petrole
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Language
Certain statements made and information contained herein constitute âforward-looking informationâ (within the meaning of applicable Canadian securities legislation). All statements in this news release, other than statements of historical facts, are forward-looking statements. Such statements and information (together, âforward looking statementsâ) relate to future events or the Companyâs future performance, business prospects or opportunities.
All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always,
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Decklar Resources Inc. (DKL-TSX Venture)
(the Company ) is pleased to provide an update to previously announced funding arrangements by its wholly-owned Nigeria-based subsidiary, Decklar Petroleum Limited, to develop the Oza Oil Field in Nigeria. When fully disbursed, these funds are expected to be sufficient to re-establish oil production and provide development funding for the Company s Oza Oil Field. The details of the funding plans are included in the Company s August 31, 2020 press release.
Update Regarding Funding Arrangements
The due diligence required to finalize the term debt arranged with a Nigerian bank and the trading subsidiary of a large multinational oil company active in Nigeria has progressed, and the final report by the independent technical consultant they contracted and based on review of reserve and production data and financial projections has been issued. The definitive loan documents are now being finalized and are anticipated to be issued by the e
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Language
Certain statements made and information contained herein constitute forward-looking information (within the meaning of applicable Canadian securities legislation). All statements in this news release, other than statements of historical facts, including statements with respect to the Company satisfying all outstanding conditions precedent in order to complete the transaction with San Leon are forward-looking statements. Such statements and information (together, forward looking statements ) relate to future events or the Company s future performance, business prospects or opportunities.