Cobra Venture Corporation: Operational Update
Cobra Venture Corporation (\"Cobra\" or the \"Corporation\") (TSX VENTURE:CBV) is pleased to provide a progress update in respect for the first half of 2008 regarding a number of Cobra\'s oil and natural gas properties. Cobra is planning an active capital expenditure program over the balance of the year.
Viewfield, Saskatchewan
Monthly revenues from production continue from 8 producing wells on Cobra lands in the area. Cobra has negotiated several 2 year leases with companies actively exploring in the area, where the gross overriding royalty ranges from 16% to 18% on all current and future production from the lands. Currently, Cobra has a 2 well commitment and 2 additional development wells planned on existing production lands.
- Published: 08 July 2008
- Written by Editor