Cold Lake First Nation joint venture moves ahead with drilling

The joint venture operations between Cold Lake First Nation and Golconda Resources Ltd. is moving ahead with well licences issued for the next three wells of the 10-well program on Cold Lake First Nation lands. All three wells are to  be drilled by mid-February. The 12-31 well continues to produce approximately 65 barrels of oil per day. Sales of produced oil, as first announced on Oct. 16, 2013, continue in the normal course of operations. The 11-30 well is shut-in pending further evaluations due to limited and inconsistent production rates. While the joint venture is evaluating options for the 11-30 well, no decision will be made until the completion of the next three wells.