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News
Release (CWQ-TSX-V)
(CWLXF.PK Pink Sheets)
Disclaimer: The TSX Venture
Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Langley, BC,
Canada, 27 May 2008.
Curlew Lake
Resources Inc.
(TSX VENTURE:CWQ)(PINK SHEETS:CWLXF)
is pleased to
announce production has commenced from the first two Menard Oil Project
wells. The Menard wells are currently producing at a combined rate of approximately 100 bopd with higher production rates anticipated. The company was also
informed that two additional well locations are currently under review
and Curlew Lake expects these will be drilled in the near future. The
Company has an agreement in place to provide funding for another 3 wells
on these lands. Curlew Lake Resources has a 12.5% working interest in
the project.
The Operator for the second Fosterton well has notified the company that
a service rig is now on the well to carry out a completion program. Any
significant results will be communicated when operations have completed.
The Company has a 15% working interest in this well.
Curlew Lake Resources Inc. is pleased to announce the appointment of Mr.
Robert A. Davies to the Board of Directors. Robert is a Civil Engineer
and MBA who over the last fifteen years has gained extensive
international and public company experience in large infrastructure
construction projects for mineral, oil and gas and nuclear power. His
experience includes financial and project management in a variety of
locations around North and South America, Africa and Asia. Robert will
be replacing Cameron G. Troyer whom we regret has passed away. The
Company is grateful to have worked with Cameron over the past decade.
The Company has completed the shares for debt issuance as previously
announced on March 4th, 2008. This was part of a negotiated
payment for a portion of the funding for the 2007 Typhoon exploration
program. The 2 contractors were issued a total of 580,000 common shares
at a price of $0.10 per share.
With the recent expiration of Management Stock Options and the new
appointment to the Board of Directors the company has decided to
restructure the stock option allotment eliminating all previously issued
options under its Stock Option Plan. As of January 31, 2008 stock
options totaled 3,300,000. The new total issued will be 3,000,000. The
new management allocation will be as detailed below;
|
Name of Optionee |
Position of Optionee |
No. of Optioned Shares |
Exercise Price |
Expiry Date |
|
Robert B. Pincombe |
President/Director |
1,000,000 |
$ 0.10 |
May 27, 2013 |
|
David D. McKee |
Chief Financial Officer/Director |
1,000,000 |
$ 0.10 |
May 27, 2013 |
|
Eric N. Ascroft |
Director |
500,000 |
$ 0.10 |
May 27, 2013 |
|
Robert A. Davies |
Director |
500,000 |
$ 0.10 |
May 27, 2013 |
For additional information or to be added to the corporate mailing list
please visit the following page
http://www.curlew-lake.com/cwq/mail.html
On Behalf of the
Board of Directors
Robert B. Pincombe
President.
For more information contact:
Curlew Lake Resources Inc.
David D. McKee, Chief Financial Officer
Tel: (647) 722-3454
Fax: (647) 722-4337
Email:
david.mckee@curlew-lake.com
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