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CORPORATE NEWS
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Curlew Lake uses the following distribution service
MARKETWIRE
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Floor 48 Yonge Street
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http://www.marketwire.ca
Langley, BC, Canada, September 09, 2009,
Curlew Lake Resources Inc. (CWQ-TSX-V) (CWLXF.PK Pink Sheets announces the
successful acquisition of an additional 14 sections (8,960 acres) of oil and
natural gas leases on its Steen River Prospect in northern Alberta. This brings
the Company’s land position to a significant 20 section (12,800 acres) in a
highly prospective area. Additionally the Company has increased its interest
from 25% to 32.5%.The Steen River structure, located 700 miles north of
Edmonton, is a meteorite impact crater producing from the outer rim up to 1000
b/d oil and 35 MMcf/d gas including 72 BCF gas reserves. The option lands are
located on the untested central uplift; where drill logs indicate about a 1000
meter relief on the fractured basement high.
Background on the acquisition:-
Recently a junior mining company exploring for
diamonds core drilled three of the magnetic highs associated with the Steen
River Impact structure. At one diamond drill hole flowing gas forced the diamond
drilling to stop and live oil stain was found in the core from a section of
seuvite. Core recovered from both holes #2 and #3 showed solution porosity with
oil stain over an interval in the suevite breccia above the central uplift (hole
#3) and adjacent to the central uplift in hole #2. Bearspaw Petoleum
subsequently drilled a well at the site of diamond drill hole #2 to about 500
meters. Logging indicated a gas show in the seuvite breccia. Upon testing,
pressures were not maintained (indicating a pocket) and the well was abandoned.
However since the central uplift is comprised of fractured basement granitoids,
gneiss etc. it is unlikely that the meteorite impact could generate such an
uplift without the uplift being comprised of fractured basement rocks. No doubt
some or many of the fractures were healed (especially at the top near the
contact with the overlying seuvite breccia), but the Company believes it is
likely they have been reopened by subsequent movement along the wrench fault
that cuts the central uplift and relates to the Great Slave Shear zone. Also,
solution porosity is evident from gas bearing, oil stained cores taken from the
overlying seuvite breccias. Although unknown at this time, the Company and its
partners believe the oil and gas shows contained in the solution porosity of the
overlying seuvite breccias likely leaked from below. Solution porosity, along
with fracture porosity is what contains oil and gas within all basement
reservoirs. Another interesting fact is that basement highs are also pressure
lows into which fluids migrate-hopefully the fluids are oil and gas. Considering
the abundance of Devonian fractured source rocks within the area of the outer
rim, the amount of oil and gas available could be significant.
Other meteorite impact zones have seen company
maker results. In the Wilmington field in California an impact site has produced
over 22 million barrels of oil from the basement reservoir. In the Suban gas
field in Indonesia estimates of gas in place are approximately 7 trillion cubic
feet of gas. The Mara Oil Field in Venezuela has produced over 31 million
barrels of oil. White Tiger, Vietnam’s largest oilfield, produces almost 200,000
barrels of oil per day from a granitoid basement reservoir, with reserves
estimated at 2 billion barrels.
On Behalf of the
Board of Directors
“Robert B. Pincombe”
President
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
The TSX has not reviewed and does not does
accept responsibility for the adequacy or accuracy of this News Release.
Warning: The Company relies on litigation protection for “forward looking”
statements. Actual results could differ materially from those described in the
news release a result of numerous factors, some of which are outside the control
of the Company.
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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