February 19, 2014
GREENCASTLE RESOURCES LTD. REPORTS ON FIRST WELL AT SPIRIT RIVER
Greencastle Resources Ltd. (“Greencastle” or the “Company”) (TSXV: VGN) is pleased to report progress at the 640 acre petroleum and natural gas (P&NG) lease in Section 11, Township 78, Range 07W6 in the Spirit River area of Northwest Alberta (the “lease”). The lease is held jointly by the Company and its 50% joint venture partner, Softrock Minerals Ltd.
The farmee (“DEML”) has set production casing on its first well (DEML HZ SPIRITR 15-11-78-07W6) on the lease after reaching a total measured depth of 3,006 metres with the last 1,420 metres being lateral (horizontal south-north from LSD 02 to LSD 15) in the targeted Charlie Lake formation. During the well drilling, three shallower horizons in the well also showed hydrocarbon possibilities. Also of interest is that the Alberta government has recently announced that spacing units on the Charlie Lake formation could be two wells per 160 acres.
In the next few weeks, the farmee expects to frac and complete the well which would earn it a 100% working interest in the section, subject to a 5% net GORR (with no deductions) to Greencastle and Softrock.
For more information, contact: Anthony Roodenburg, CEO (416) 367-4571 x 233 or visit the
Company’s website at www.greencastleresources.com.
On behalf of the Board of Directors
The Honourable Nick Taylor, President and Chief Executive Officer
For further information please contact:
Softrock Minerals Ltd.
#1010, 825 – 8th Avenue SW
Calgary, Alberta T2P 2T3
Ph:(403) 266-2605 or Fax:(403) 266-2730
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.