TXLA News Cedar Strat Makes Further Geological Recommendations on Texola Energy's Maverick Springs Project
VANCOUVER, British Columbia--(BUSINESS WIRE)--Texola Energy Corp. (‘Texola’
or the ‘Company’)
(OTCBB: TXLA) is pleased to advise that Cedar Strat has completed
its preliminary geological report on the Company’s
Maverick Springs Project, Nevada USA. The report was being prepared at
the request of the Company as a follow-up step to the earlier completed
preliminary exploration work undertaken on the prospect which included a
recently acquired gravity survey, geological cross sections, a 10 well
study, a detailed surface outcrop survey, and a cross section map on the
Maverick Springs Prospect. It was this initial exploration activity
which concluded the potential of the Maverick Springs prospect for not
only a "fractured shale" prospect but also the potential for a
conventional oil prospect underlying the Maverick Springs Anticline.
As a result of the encouraging preliminary findings and the follow-up
geological analysis, Cedar Strat has recommended that Texola proceed to
shoot a seismic dip line to assist in identifying seismically, the exact
location of the Maverick Spring Anticline. Upon completion and
interpretation of the proposed seismic acquisition, it is further
recommended that Texola proceed to shoot a strike line to determine the
crest of the anticline. In assessing these recommendations, Texola will
determine the viability and cost effectives of shooting both lines
concurrently. In addition to the above, Cedar Strat has also recommended
that Texola extend the Maverick Springs transect and add two additional
transects to evaluate the rest of the leases within the Maverick Springs
AMI.
Management is once again encouraged by the positive review and analysis
of the Maverick Springs prospect and looks forward to updating
shareholders as it move towards defining the most prospective drill
targets going forward.
About Texola Energy Corp.
Texola is an emerging, growth oil and gas exploration company focused on
providing exceptional shareholder value and appreciation by finding,
exploring and developing large scale, early stage oil and gas projects
in North America.
To achieve this goal, the Company has recently undertaken various
exploration initiatives, one of which is an early stage exploration
prospect in Nevada, USA, and the second is located in Northern Alberta,
Canada. Both of these projects offer the Company the potential to
exploit and develop large, world-class reservoirs.
Notice Regarding Forward Looking Statements
This news release contains “forward-looking
statements”, as that term is defined in
Section 27A of the United States Securities Act of 1933, as amended, and
Section 21E of the United States Securities Exchange Act of 1934, as
amended. Statements in this press release, which are not purely
historical, are forward-looking statements and include any statements
regarding beliefs, plans, expectations or intentions regarding the
future. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. These
forward-looking statements are made as of the date of this news release
and Texola assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ
from those projected in the forward-looking statements. Although Texola
believes that the beliefs, plans, expectations and intentions contained
in this press release are reasonable, there can be no assurance those
beliefs, plans, expectations, or intentions will prove to be accurate.
Investors should consider all of the information set forth herein and
should also refer to the risk factors disclosed in Texola’s
periodic reports filed from time-to-time with the Securities and
Exchange Commission and available at www.sec.gov.
