Gulf Shores Resources Ltd.
Gulf Shores Resources contracts drill rig for Texas Project / Both Northsea Projects drill ready
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Vancouver, April 5, 2006 – Gulf Shores Resources Ltd. (Frankfurt: GFU,
TSX-V: GUL) contracted a drill rig for May, 2006 for the drilling of the
North Cleveland project in Liberty County, Texas. Gulf Shores Resources
Ltd. is paying 10% of the seismic, land, drilling and testing costs of an
11,000 foot test well to casing point to earn a 7.5% working interest in
the project.
Site surveys have been completed on two projects in the North Sea in which
Gulf Shores Resources has an interest. Both projects are now drill ready:
Gulf Shores Resources is paying US$101,250 and 15% of the cost of drilling,
testing, completing and equipping a test well to earn an 11.25% interest in
a 255 square kilometer (63,000 acre) block located in Quad 14 in the North
Sea. The block is located 24 kilometers south of the 639 million barrel
Claymore field, 20 kilometers south of the 132 million barrel Scapa field
and 9 kilometers north of the 592 billion cubic foot Goldeneye field. 3-D
seismic coverage indicates that the block contains three potential
hydrocarbon horizons.
Gulf Shores is paying US$75,000 and 15% of the cost of drilling, testing,
completing and equipping a test well to earn a 10% interest in a 970 square
kilometer (240,000 acre) block located in Quads 41 and 42 in the North Sea.
The proposed location is 7 kilometers south of the 41/5-1 gas discovery.
3-D seismic coverage indicates that the block contains three potential
hydrocarbon horizons.
On behalf of the Board
Michael Turko
President
Contact:
Value Relations GmbH
GFU@ir-services.de
+49 (69) 95924613
(c)DGAP 05.04.2006
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language: English
emitter: Gulf Shores Resources Ltd.
#404 – 999 Canada Place
V6C 3E2 Vancouver, B.C. Kanada
phone: +1 (604) 683-3309
fax: +1 (604) 844-2834
email: gulfshores@net-conex.com
WWW: http://www.gulfshoresresources.com
ISIN: CA40251T1084
WKN: 784809
indexes:
stockmarkets: Freiverkehr in Berlin-Bremen, Stuttgart, München; Open Market
in Frankfurt; Foreign Exchange(s) Canadian Venture Exchange
End of News DGAP News-Service
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