VANCOUVER, British Columbia, Nov. 20, 2017 (GLOBE NEWSWIRE) — Stamper Oil and Gas Corp. (TSX-V:STMP) (FSE:TMP2) (OTCQB:STMGF) (“Stamper” or “the Company”), is pleased to announce that Stamper is positioning itself to be a successful international oil and gas company. It has recently added Mr. Alexander Polevoy as a new director, with extensive experience in project financing and management. The Company intends to further strengthen the Board of Directors, in due course. As previously announced in October 10, 2017 news release, the Company is pursuing late exploration stage/early development stage oil project in Sudan.
The oil project has had previous work done as follows, including completion of 6,700 km of 2D seismic and 432 sq. km of 3D seismic and subsequently have also indicated a number of new potential locations for drilling. The project area for exploration and production comprises of 26,000 sq. km where the previous operator successfully drilled 3 discovery wells and 7 development wells.
A third party analysis report indicates “based on the TOC/ Rock Eval data at disposal, excellent oil prone lacustrine source rocks (Type I) were penetrated in the two discovery wells located in the Central Sub-basin. In the Eastern Sub-basin, a source rock was encountered near TD in the lower oil prone formation, Campanian in age.”
Stamper Oil and Gas Chairman Lutfur Khan commented, “I am very pleased to be back in Africa evaluating oil exploration and development projects. My last foray into Africa was very effective where we advanced oil exploration projects and carried them into production, while we designed and built a successful 1,500 km export pipeline.”
The Company believes that this basin is going to be a prolific oil producer in the near term. The Company will continue to pursue additional projects with similar potential.
About Stamper Oil and Gas
Stamper Oil and Gas Corp. (TSX.V:STMP) is an independent international oil and gas company, engaged in the acquisition, exploration and development of conventional oil and natural gas properties. The Company plans to identify and build out a portfolio of high-impact oil and gas prospects, with a focus on Latin America. Stamper is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets.
For further information on Stamper Oil and Gas please visit www.stamperoilandgas.com
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Qamar M. Malik, MSc., Ph.D., Petroleum Engineering, who is a “Qualified Person” as such term is defined under National Instrument 51-101 (“NI 51-101”) and Canadian Oil and Gas Evaluation (“COGE”) Handbook.
ON BEHALF OF THE BOARD OF DIRECTORS
“David C. Greenway”
President & Director
For further information, please contact:
Stamper Oil and Gas Investor Relations
Phone: (604) 684-2401
Email: [email protected]
Neither 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 release.
Forward-Looking Statements
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Stamper Oil and Gas Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Stamper Oil and Gas Corp. management on the date the statements are made. Except as required by law, Stamper Oil and Gas Corp undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.