Excelsior Reports Results Of Hangingstone Delineation Drilling

摘要

An updated independent evaluation of bitumen resources on Excelsior Energy Limited's Hangingstone property near Fort Mc-Murray, Alberta has resulted in a 14% increase in estimated discovered oil-in-place.Petroleum engineers McDaniel & Associates Consultants Limited prepared the report to assess the results of the 29 core well drilling program completed in March of this year. The company has now drilled a total of 55 wells on the Hangingstone property where it has a 75% working interest in 39 contiguous sections of oil sands rights.