Gulf Shores Acquires Rocanville Acreage
July 25 2011 - 8:00AM
Marketwired
Gulf Shores Resources Ltd. (TSX VENTURE: GUL)(FRANKFURT: GFU)
(Gulf) has entered into an agreement with a private arm's length
Saskatchewan Company whereby Gulf will pay 60% of the cost of
drilling, completing and equipping a vertical Bakken oil well to
earn a 51% working interest before payout and a 42% working
interest after payout in 640 acres in the Rocanville area of south
east Saskatchewan. Gulf will pay 42% of the drilling, completion
and equipping costs of the remaining 15 Bakken oil wells on the
acreage to earn a 42% working interest in each well.
The acreage is centered on a seismically defined structure that
is similar to the prolific Rocanville field that is located four
miles to the east and has produced in excess of 4.8 million barrels
of Bakken oil.
The first well is expected to be drilled during next month.
ON BEHALF OF THE BOARD
Michael Turko, President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Gulf Shores Resources Ltd. Mr. Gerald Otterman (604)
683-3309 info@gulfshoresresources.com
www.gulfshoresresources.com
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