/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
KELOWNA, BC,
Feb. 14, 2013 /CNW/ - Further to the
news release of Nov 27th, 2012
regarding the second horizontal well on the Coteau Lake,
southeastern Saskatchewan prospect
namely 4C8-10-2D4-10-1-20W4, spudded on November 23rd and was rig released on
December 12th, 2012.
Completion operations began on Dec 14th and testing was completed on
February 13th, 2013. The well
encountered high volumes of water and operations have been
suspended pending further Geological & Geophysical reviews.
Cautionary Statement:
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
No stock exchange, securities commission or
other regulatory authority has approved nor disapproved the
information contained herein.
The swab test rate expressed above is for a
7.5 hour period, extrapolated to a 24 hour period for the relevant
well. Any references in this press release to
production/performance rates are useful in confirming the presence
of hydrocarbons, however, such rates are not determinative of the
rates at which such well will continue production and its decline
thereafter or ultimate recoverable resources. While
encouraging, readers are cautioned not to place reliance on such
rate in calculating the production for the well or
Corporation.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking
statements relating to the future operations of the Corporation and
other statements that are not historical facts. Forward-looking
statements are often identified by terms such as "will", "may",
"should", "anticipate", "expects" and similar expressions.
All statements other than statements of historical fact, included
in this release, including, without limitation, statements
regarding future plans and objectives of the Corporation, are
forward looking statements that involve risks and
uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Corporation's expectations are exploration
risks detailed from time to time in the filings made by the
Corporation with securities regulations.
The reader is cautioned that assumptions used in
the preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results
to differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of Georox. As a result, we
cannot guarantee that any forward-looking statement will
materialize and the reader is cautioned not to place undue reliance
on any forward-looking information. Such information,
although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may
differ materially from those anticipated. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement. The forward-looking statements
contained in this news release are made as of the date of this news
release, and Georox does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by Canadian securities
law.
SOURCE Georox Resources Inc.