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The Company's common shares are
listed on the TSX Venture Exchange under the symbol CWQ and on the Pink Sheets
under the symbol CWLXF. TSX Venture Pink Sheets Vancouver Location, 20641 Logan
Avenue, Suite 206, Langley, B.C., Canada, V3A 7R3 Phone: (604) 628-1961 Fax
(604) 628-1993. Toronto Location, 1250 Eglinton Avenue, Suite 325 Mississauga
ON., Canada L5V 1N3 Phone: (647) 722-3454 Fax (647) 722-4337
Steen River Project : Curlew Lake
Resources Inc. announced a signed a letter of intent for an option agreement
with a third party pursuant to which it will enter into a two well drilling
option agreement by May 27th, 2009, ending March 27th 2012, on 6 sections
comprising the Steen River oil and gas prospect of Northern Alberta. The letter
of intent calls for a non-refundable deposit of $3,750 which will be paid from
the operational revenue from the companies Menard Oil project. Curlew Lake has
secured a 25% position in the play
Turner Valley oil and natural gas
project located just south of Calgary, Alberta has progressed to the
production/development stage. Four successful wells to date, one on production
and the remaining three requiring pipeline upgrades/connections.
Minard
Project is located in Saskatchewan and presents good potential offsetting
existing production. The first two wells are currently shut-in. The targeted
Frobisher formation is at a depth of approximately 1300 metres.
Fosterton
Project : The Fosterton project is located in Saskatchewan and presents good
potential offsetting existing production. The targeted Rosary Sand formation is
at a depth of about 3,300 feet, is well-developed porous and permeable sand and
is the producing horizon in the adjoining Fosterton field. The farm out land
consists of 320 acres offsetting the Fosterton field. Wells can be drilled on 40
acre spacing with the present seismic feature supporting several offset
locations. Cumulative production at the analogous Fosterton Field varies with
the best well producing over 300,000 barrels of oil. The seismic work completed
suggests a multiple well project.