DGAP-News: Cardiff Energy Corp. / Key word(s): Drilling Result/Statement
2015-09-08 / 17:49
Cardiff Energy Corp. Provides Clayton #1H Update
September 8, 2015
CARDIFF ENERGY CORP. (the “Company”) (TSX-V: “CRS”, Frankfurt: “C2Z.F”, US Pinksheets: “CRRDF”) is pleased to provide an update on the status of the Clayton #1H located in Runnels County, Texas. On August 10, 2015 the Company announced that it has been determined with consultation from Martin Energies, operator of the Clayton #1H well that the current drill contractor should be replaced due to performance issues. During drilling of the Clayton #1H the initial drilling contractor ran into a major problem when they managed to get the reamer stuck at roughly 2500ft when reaming the hole in preparation for setting casing.
On August 19, 2015 the services of a new drilling contractor and crew were engaged and work began to remedy problems at the well site. Significant efforts were spent preparing the hole to free the stuck reamer and the Company is pleased to announce that on September 4, 2015 the reamer was successfully fished out of the hole. The Clayton #1H is now being re-conditioned to depth in preparation for setting casing, after which 5 days of horizontal drilling will take place to complete the drilling of the well.
Jack Bal, President and CEO of Cardiff Energy Corp., states “we are very pleased that the stuck reamer has been pulled out of the hole, as a stuck reamer posed a major technical problem to completing the well. We are now confident that the Clayton #1H will be completed in the near term. We would also like to thank the new drilling contractor and crew who arrived August 19, 2015 and have done an amazing job and have shown the utmost level of professionalism.”
The Company would also like to announce the addition of Greg Campbell to the board of directors. Mr. Campbell is currently the Corporate Secretary.
To learn more about the Company and the drilling of the Clayton #1H horizontal well and to view pictures of the site please visit:
http://www.cardiffenergy.com/i/pdf/Runnels-County-Texas.pdf
http://www.cardiffenergy.com/s/RunnelsCounty.asp
About the Company
Cardiff is an emerging junior oil and gas company engaged in the acquisition, exploration, development, and production of oil and gas properties. Cardiff is listed on the TSX Venture Exchange under the symbol CRS. For additional details please visit Cardiff’s website atwww.cardiffenergy.com
For additional information contact:
Jack Bal, President and CEO
Cardiff Energy Corp
604-306-5285
jackbalyvr@gmail.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Jack Bal”
________________________________
Jack Bal,
President and Chief Executive Officer
NEITHER 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.
This news release contains forward-looking statements relating to the future operations of the Company. 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 Company, 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 Company’s expectations are exploration risks detailed from time to time in the filings made by the Company 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 the Company. 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 the Company 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 applicable securities laws.