Post by Franko10 ™ on Feb 22, 2005 22:09:23 GMT -5
GOLDEN ARCH RESOURCES LTD.
#928 – 470 Granville Street, Vancouver, BC V6C 1V5
Phone: (604) 681-8222 Fax: (604) 681-8282
GAI: TSX Venture Exemption 12g3 - 2(b)
GARCF: O.T.C SEC File # 82-659
#928 – 470 Granville Street, Vancouver, BC V6C 1V5
Phone: (604) 681-8222 Fax: (604) 681-8282
GAI: TSX Venture Exemption 12g3 - 2(b)
GARCF: O.T.C SEC File # 82-659
NEWS RELEASE
February 10, 2004 – Golden Arch Resources (the “Company”) is pleased to announce that it has acquired for $72,728.00 US an interest in the oil and gas leases covering Section 66, Block A-2, H. & G.N. R.R Survey, Hemphill County, Texas.
Currently, the operator W. C. Payne is preparing to drill the #9-66 Young of which Golden Arch will participate. This well is proposed to a depth of approximately 14,000’. The primary target is the Morrow Sands of Pennsylvanian age responsible for prolific production in the region. One particular Morrow sand located at a depth of 13,264’ in the Chevron #9-71 A. A. Ross, an offset well just north of the prospect, began producing at a rate of 5,000 [MCFGPD] in November 2000 three years ago, from 14’ of Morrow sand pay. That well is currently still producing at 5,000 [MCFGPD] with no decline and has produced a cumulative of 5,680,892 [MCFG] to November 2003.
The proposed well location was placed using a combination of conventional three dimensional seismic shot over an approximate 36 [sq/mile] area then reprocessed using spectral decomposition. This state of the art processing was prepared by Devon Energy, a partner in the project, on a Landmark seismic system. Both methods complimented each other and give strong evidence of encountering the same producing horizon in the proposed well that was found in the Chevron producer.
Golden Arch has acquired a three percent (3%) working interest before payout converting to a two percent (2%) working interest after payout.
On behalf of the Board of Directors of Golden Arch Resources Ltd.
“B. Keith Shirley”<br>B. Keith Shirley, PG
Director