HOUSTON, TX–(Marketwire – Mar 25, 2013) – Strongbow Resources Inc. (OTCQB: STBR) is pleased to announce that it completed the installation of permanent production facilities on its recently drilled Big Lake Compeer 5-29-33-02 W4M well. The well was horizontally drilled into the Viking formation. During drilling the well encountered light oil shows from the Viking formation. A ten stage multi-zone nitrogen aided fracture stimulation was made over the entire 1000 metre long lateral section of the well. The well was initially tested in November 2012, however, due to high solution gas ratios, proper wellhead separation and fluid storage facilities needed to be installed. This was recently completed and the well was placed on production test at the end of the first week of March 2013, producing light (42° API) oil. Production rates have been variable as it is in early stages of testing. IP rates were in excess of 60 barrels of oil per day based upon short flow periods, and the well needs to be production tested for a longer period of time.
Through its wholly owned subsidiary, Big Lake Energy Ltd., Strongbow has now earned the eight section licence from Harvest Operations Corp. effective June 6, 2012 under the farmout agreement dated Feb 21, 2012.
About Strongbow Resources Inc.
On February 21, 2012 Strongbow executed an agreement through which it acquired the right to earn an undivided 100% working interest in a Petroleum and Natural Gas License covering eight (8) sections of land (5,120 acres, more or less) located in the Compeer Area in the Province of Alberta, Canada. It plans to begin exploration of that acreage immediately. Strongbow is also negotiating a number of additional oil and gas leases through which it intends to expand its operations in Canada and the United States.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the “SEC”). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which the Company has little or no control. The Company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the Company’s recent filings with the SEC.