Western Plains Petroleum to Commence
Drilling Program with Alberta Star
Western
Plains Petroleum Ltd WPP
8/20/2010 9:30:00 AM
Calgary, AB August 20, 2010
Calgary, Alberta CANADA, August 20, 2010 /FSC/ - Western Plains
Petroleum Ltd. (TSX - VX: WPP), ("Western Plains" or the "Company")
announces that it is near completion of the survey of the well sites
in preparation for the kick-off its previously announced drilling
program with its working interest partner, Alberta Star Development
Corp. ("Alberta Star"). There are 5 in-fill development wells
planned under the drilling program (originally proposed to be 4
wells), all to be drilled on section 6 - 50 - 25 W3M in the
Lloydminster area of Saskatchewan, with spudding of the initial well
expected to occur in early September, 2010, subject to receipt of
licensing approval. All wells are anticipated to be drilled,
completed and on production by mid-October 2010.
The 5 new drills will be adjacent to the Company's recently drilled
and completed farm-out well with Arctic Hunter Uranium Inc., which
well is maintaining or exceeding its initial production rate of 70
bbls/day of heavy oil. Western Plains will be targeting the same
zone with the 5 new drills, with the expectation that initial
production rates will be comparable to that of the Arctic Hunter
farm-out well.
Western Plains and Alberta Star each hold a 50% working interest in
section 6-50-25 W3M (excluding the drilling spacing unit earned by
Arctic Hunter) and are participating in the 5 well drilling program
on a 50/50 basis.
About Western Plains Petroleum Ltd.
Western Plains is a Lloydminster, Alberta, based junior heavy oil
producer with interests located in the Lloydminster area in both
Saskatchewan and Alberta. The common shares of the Company trade on
the TSX Venture Exchange under the symbol WPP. For more information,
please contact:
David Forrest
President and Chief Executive Officer
Western Plains Petroleum Ltd.
#202, 5004 - 18 Street
Lloydminster, AB T9V 1V4
Telephone: (780) 205-4468
Fax : (780) 808-8038
E-mail: brahmadf@gmail.com
www.westernplainspetroleum.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the Policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Reader Advisory
Certain information in this Press Release is forward-looking within
the meaning of certain securities laws, and is subject to important
risks, uncertainties and assumptions. This forward-looking
information includes, among other things, information with respect
to Western Plains' beliefs, plans, expectations, anticipations,
estimates and intentions, including the completion of Western
Plains' success of future drilling and development activities, the
performance of existing wells, the performance of new wells, general
economic conditions, availability of required equipment and services
and prevailing commodity prices. The words "may", "could", "should",
"would", "suspect", "outlook", "believe", "anticipate", "estimate",
"expect", "intend", "plan", "target" and similar words and
expressions are used to identify forward-looking information. The
forward-looking information in this Press Release describes Western
Plains' expectations as of the date of this Press Release.
Material factors which could cause actual results or events to
differ materially from such forward-looking information include,
among others, risks arising from general economic conditions and
adverse industry events, risks arising from operations generally,
changes in plans with respect to exploration or development projects
or capital expenditures; the uncertainty of reserve estimates; the
uncertainty of estimates and projections relating to production,
costs and expenses, and health, safety and environmental risks),
commodity price and exchange rate fluctuations; reliance on
contractual rights such as licenses and leases in the conduct of its
business, reliance on third parties, reliance on key personnel,
possible failure of the business model or business plan or the
inability to implement the business model or business plan as
planned, competition, environmental matters, and insurance or lack
thereof.
Western Plains cautions that the foregoing list of material factors
is not exhaustive, is subject to change and there can be no
assurance that such assumptions will reflect the actual outcome of
such items or factors. When relying on Western Plains
forward-looking information to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events. Western Plains has assumed a
certain progression, which may not be realized. It has also assumed
that the material factors referred to in the previous paragraph will
not cause such forward-looking information to differ materially from
actual results or events.
The forward-looking statements contained in this press release are
made as of the date hereof and the Company undertakes no obligation
to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
Source: Western Plains Petroleum Ltd. (TSX-V WPP)
www.westernplainspetroleum.com
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