News Release
 

 

 

  

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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