CALGARY, ALBERTA--(Marketwire - Oct. 19, 2012) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI) (OTCBB:CSPUF) announces that it has successfully fracked and flow-tested the previously drilled vertical well located at 12-7-83-24W6 in the Farrell Creek area of northeastern British Columbia. The drilling of this well enabled the Corporation to retain seven sections of land for an additional term of five years. The well was fracture stimulated in the upper, middle and lower zones in the Montney Formation. Although there was no evidence of free condensate being produced, the prospectivity of natural gas in all three zones was confirmed. In addition, data from the production test (flow rates and gas analyses) allows the Corporation to optimize the placement of the lateral leg in its new horizontal well to be located at 1-25-83-25W6. It is anticipated that this well will be spud later in the fourth quarter of this year.
CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional natural gas sector of the energy industry.
Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation's website at www.csri.ca.
The corporate information contained in this news release may contain forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by CSRI at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently there is no representation by CSRI that actual results achieved during the forecast period will be the same in whole or in part as those forecast.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE