Welcome To The Canoro Resources HUB On AGORACOM

Canoro Resources Ltd. is a Canadian-based international oil and gas company operating in the prolific Assam/Arakan basin of Northeast India.

Hub Home

> Log In

Demo Video
Private Messages
Edit My Profile
View/Edit Portfolio

AGORACOM News Flash

AGORACOM WIRE - MONDAY MAY 28TH, 2012

SONOMAX completes $3 million equity financing

“Sonomax Now A Proven Commodity In The Mining Sector”
Read Full Press Release; Read Why Sonomax?
Jump Into Active Discussion Forum
*Sponsor*

FOCUS METALS (TSXV:FMS) Changes Its Name to Focus Graphite Inc. Read More | *SPONSOR

INTERNATIONAL PBX VENTURES (TSX:PBX) Signs Copaquire Joint Venture Option Agreement - $90M Potential Payment Read More

LOMIKO METALS (TSXV:LMR) Graphite and Zinc Price Outlook is Favourable Through 2013 Read More | *SPONSOR

Message: Canoro Updates Status of AA-ON/7

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »

Clavis

Rank: [?]

President

Points: [?]

23987

Rating: [?]

Votes: 222 Score: 3.5

Currently 3.6/5 Stars.

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Canoro Updates Status of AA-ON/7

posted on Jan 16, 09 01:42AM

January 15, 2009

Canoro Updates Status of AA-ON/7

CALGARY, ALBERTA--(Marketwire - Jan. 15, 2009) - Canoro Resources Ltd. ("Canoro" or the "Company") (TSX VENTURE:CNS) is updating the drilling and status on the AA-ON/7 exploration block in northeast India. Canoro has completed its appraisal drilling operations at Dergaon #2. The targeted zone was of equivalent structural height to Dergaon # 1, but appeared non-hydrocarbon bearing on well-log data. Consequently, the Dergaon #2 appraisal well has been plugged and abandoned.

The Company is currently evaluating the status of the AA-ON/7 block which comprises 473 km2 in the State of Assam and 319 km2 in the State of Nagaland. Given the results of Dergaon #2 and given that the Company has no further drilling operations contemplated on the Assam side of the Block, the Company plans to relinquish, subject to Government of India and partner approvals, this acreage back to the Government of India. As a result of the planned relinquishment, probable reserves of 21.2 BCF (3.5 MMBOE) net to Canoro's 65% working interest and possible reserves of 15.8 BCF (2.6 MMBOE) net will be written down by the Company, also subject to Government of India approval. Any relinquishment of AA-ON/7 will not affect any proven reserves of the Company previously reported.

The Nagaland portion of the Block is under consideration by the Government of India to be included in a new Production Sharing Contract which if approved, is expected to be awarded to the Company in 2009.

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »