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TROPHY RESOURCES INC (U-TRSI) - News Release Trophy Resources Inc. Moves Forward on Williston Basin Prospect
2006-06-29 09:19 ET - News Release
CARLSBAD, Calif. -- (Business Wire) -- June 29, 2006
Trophy Resources, Inc. (Pink Sheets:TRSI) begins development of Williston Basin prospect in southern Valley County, Montana. As previously announced on June 9, 2006, Trophy Resources acquired a 37.5% working interest in approximately 2000 acres of land that on the western edge of the Williston Basin in Montana. Based on the initial assessment of Company management and its partners, including geologist W.R. Clark and well known wildcatter, Chuck Laser, who have expressed their opinions that the Glasgow prospect has promising geological structure; Trophy Resources is in the process of retaining an independent geologist to review the available data. Trophy Resources COO, Eric Leonetti: "We expect that an independent opinion will confirm the current findings and provide feedback on whether additional seismic and or geochemical surveys are required. We are excited to move forward with the Glasgow prospect and further develop the opportunities presented." The Company is anticipating that drilling will begin in the Fall and is expected to run over an 18 to 30 month schedule. Management estimates that as many as ten wells can be positioned within the defined acreage. Trophy Resources assesses all projects on the basis of defined investment criteria including the preservation of capital and mitigation of risk.
About Trophy Resources: Trophy Resources, Inc. (www.trophyoil.com) is a publicly traded company dedicated to building a diverse portfolio of high value, low risk energy and mining projects. The Company's goal is to evaluate profitable options, build a solid foundation of assets through acquisition of land and/or leases, and explore and develop opportunities on these leases.
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. Contacts:
for Trophy Resources, Inc. D.P. Martin & Associates, Inc. Douglas Martin, 800-288-7499 info*trophyoil.com
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