Bookmark and Share
Email Print

LevelStock.com: Cougar Oil and Gas Canada Inc. Reactivates Suspended Alexander Oil Prospect



Jul 19, 2010 (M2 PRESSWIRE via COMTEX) -- Braintree,Ma. LevelStock.com is pleased to announce to all of its members and investors information on Cougar Oil and Gas Canada Inc. ("Cougar Canada" or the "Corporation") (OTCBB: COUGF). The Company recently released news as follows:

Cougar Oil and Gas Canada Inc. ("Cougar Canada" or the "Corporation") (OTCBB: COUGF) is pleased to announce today the successful integrity tests, repair and reactivation of the suspended oil property in the Alexander field.

The property, which is setup as a single well battery, is located in north central Alberta and was acquired in Q4, 2009 as a result of a default by the partner in the Lucy project on a farm-in commitment. When Cougar Canada acquired the property both the pumpjack and the battery needed repairs and general maintenance before the well could be started up and put on production. The repair and startup operations were deferred until after spring breakup to avoid extra costs and potential equipment damage that could result from doing this work in the colder winter weather.

Mr. William Tighe, Chief Executive Officer for Cougar Canada, stated, "We are pleased that the Alexander oil well has resumed production. The repair operations were finished in June and the net production has stabilized at a rate of approximately 15 barrels of oil per day. We will continue to monitor the production and look for ways to optimize operations and lower operating costs as we have done with our Trout Core area. As a result of the new production from Alexander, Cougar Canada's total net production now exceeds 230barrels of oil per day."

About Cougar Oil and Gas Canada Inc.:

Cougar Oil and Gas Canada Inc. (OTCBB: COUGF) is based in Calgary, Alberta, Canada and a publicly traded oil and gas exploration and production company. The focus is on the exploration and development of Canadian based onshore oil and gas properties. The current projects are Lucy in the Horn River Basin in northeast British Columbia and CREEnergy Joint Venture and area projects located in north central Alberta.

Additional information is at http://www.cougarenergyoilandgascanadainc.com.

Forward-looking Statements: This press release contains forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," or similar expressions are intended to identify "forward-looking statements". The Company's business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Cougar Oil and Gas Canada Inc. undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.

About LevelStock.com

We are an investor community and investors relations website specializing in emerging growth stocks in today's Hot Sectors and providing a platform of services for SmallCap, MicroCap, NanoCap Companies.

We encourage everyone to join our social media sites:

Free Subscription For Our Newsletters: http://www.levelstock.com/

FaceBook: http://www.facebook.com/group.php?gid=283660480870

Twitter: http://twitter.com/levelstock

LevelStock.com is not a registered investment advisor or broker-dealer. The information here is believed to be reliable, but not guaranteed to be accurate by LevelStock.com Please be advised that the information contained may or may not be complete and is solely for informational purposes only. Please read our full disclaimer for complete risks and disclosures http://levelstock/news.php?viewStory=19

CONTACT INFO: LevelStock.com 288 Grove Street Suite 181, Braintree, MA 02184

CONTACT: LevelStock.com e-mail: support@levelstock.com



Share: