Bird River Resources Inc. (CSE: BDR) (“Bird River” or the “Company”) today announces an operational update on its Oil & Gas business vertical.
Bird River is pleased to announce that the Alberta Energy Regulator (AER) has granted High Point Oil Inc., a wholly owned subsidiary of Bird River, eligibility to hold licenses for all types of wells, facilities and pipelines. The Company has now achieved a significant step towards its inaugural drilling program, which will commence immediately following the Spring breakup.
“Our 3D seismic has identified 20 drilling locations to date and we now have the AER eligibility status to continue down our path of growth for our Oil & Gas business,” said Ty Pfeifer, Director of Bird River.
Applications for well licenses are underway. Drilling is planned after the Spring breakup to avoid the increased risk and cost of running a drill program during the problematic thaw cycle.
The Company has also expanded its drilling inventory with the acquisition of several new petroleum leases. In addition to the 20 drilling locations already established, more drilling locations are expected to be identified as the Company expands its 3D seismic database. It is anticipated that some of these incremental locations will also be added to the Company’s 2018 drilling program.
About Bird River Resources Inc.
Established in 1958, Bird River Resources is a Canadian natural resources company focused on three verticals within the energy sector – Oil & Gas, Cogeneration and Technology. The Oil & Gas vertical was recently expanded through the acquisition of High Point Oil and focuses on the acquisition, exploration and development of petroleum and natural gas in the Western Canadian Basin. The cogeneration vertical is a joint venture with Divestco Inc. focused on the conversion of natural gas to electricity at exceptionally low rates. The Technology vertical focuses on the application of technologies such as blockchain to identified opportunities within the energy and technology sectors. Additional information on Bird River is available on its websites at birdriverresources.com and highpointoil.net, and on SEDAR at sedar.com.
|Mr. Ty Pfeifer||Mr. Howard Blacker|
|Director (CEO, High Point Oil)||CFO, High Point Oil|
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