VANCOUVER, B.C., Jan. 23, 2018 (GLOBE NEWSWIRE) — Stamper Oil & Gas Corp. (TSX-V:STMP) (FSE:TMP2) (OTCQB:STMGF) (“Stamper” or “the Company”), is admiring to advertise Chapman Petroleum Engineering Ltd., absolute petroleum consultants of Calgary, Alberta, has completed and aggregate the Oil & Gas affluence and economics appraisal (“Chapman Affluence Evaluation Report”) for Stamper on the Sudan development anticipation beneath National Instrument 51-101 (“NI 51-101”).
The Company’s affluence and economics appraisal performed on the Sudan anticipation as set alternating (the “Reserves Data”) in the Chapman Report. Chapman has appear Gross Acreage Affluence of 149 actor banal catchbasin barrels (“MMSTB”).
David Greenway, Chief Executive Officer of Stamper, commented: “Management aggregation continues to assassinate its advance action with account to aerial amount Sudan oil activity and we are aflame with the amount of Brent oil hitting $69.17 today which construe into cogent upside with 149 actor barrels.”
In the development prospect, the Aggregation will accept 35% alive absorption (“W.I”) and CAPEX obligation beneath the Analysis & Assembly Sharing Acceding (the “EPSA”) has already been accomplished by the operating company, Rawat Petroleum Operation Aggregation (“RPOC”). Beneath the acceding of the farm-in agreement, State is appropriate to pay $40,144,300 USD to Sudapet for assignment ahead completed on the Development Block and there will be a added acquittal of $26,250,000 USD afterwards abutting the ESPA. The ESPA for the Development Block is for 20 year appellation with a 5 year extension.
Going forward, Stamper intends to accompany and advancing access in the abbreviate term. Affairs are to accouter and tie in the six completed and activated wells to assembly facilities. In addition, the four already accomplished wells cat-and-mouse achievement are accepted to be on assembly aboriginal 2019. Stamper intends to assignment six new infill wells on articular locations forth the trend in backward 2018 and 2019. A absolute of 24 new added locations will be accomplished amid 2020 and 2022 in the Rawat and Wateesh areas.
Block 25 anticipation is amid in the White Nile State in the south eastern allocation of the Republic of Sudan, adjoining the bound with Republic of South Sudan. The acreage is barren and almost flat. The breadth is sparsely busy and is amid west of the White Nile. There is bound alley arrangement and agronomics in the area. The abutting above communities are Kosti and Rabak about 150 km arctic of the activity breadth area there is a railway station, airport and a above amoroso refinery. The Government of Sudan is afraid to advance its oil assets and the Aggregation has the abounding abutment and abetment of the government.
Operating costs accept been estimated to be $10,000 per able-bodied per ages additional $8.00 banal catchbasin barrels (“STB”) operation costs. It is estimated that busline costs to a sales point will be $5.00/STB.
About Chapman Petroleum Engineering
Chapman Petroleum Engineering Ltd. founded in 1985, is a Canadian consulting close accouterment absolute petroleum engineering, geological and geophysical and administration casework accoutrement the abounding spectrum of the oil & gas industry, domestically and internationally. Chapman casework accommodate assets and bread-and-butter evaluations and ability assessments, accretion analyses, specialized abstruse studies, acreage corruption and ability management, and representation for authoritative and acknowledged purposes.
The key professionals at Chapman anniversary accept from 25 to 45 years of broadly adapted acquaintance in the oil & gas industry, domestically and internationally. Chapman are Qualified Assets Evaluators and Auditors beneath Canadian Securities Regulation NI 51-101.
About Stamper Oil and Gas
Stamper Oil and Gas Corp. (TSX.V:STMP) is an absolute all-embracing oil and gas company, affianced in the acquisition, analysis and development of accepted oil and accustomed gas properties. The Aggregation affairs to analyze and body out a portfolio of high-impact oil and gas prospects, with a focus on Latin America. Stamper is committed to creating acceptable actor amount by evaluating and developing approaching affairs into commercially applicable assets.
For added advice on Stamper Oil and Gas amuse appointment www.stamperoilandgas.com
The accurate and abstruse advice independent in this account absolution has been advised and accustomed by Qamar M. Malik, MSc., Ph.D., Petroleum Engineering, who is a “Qualified Person” as such appellation is authentic beneath National Instrument 51-101 (“NI 51-101”) and Canadian Oil and Gas Appraisal (“COGE”) Handbook.
The National Instrument 51-101 (“NI 51-101”) address is accountable to a cardinal of conditions, including but not bound to, its Regulations Casework Provider and TSX Venture Exchange acceptance.
ON BEHALF OF THE BOARD OF DIRECTORS
“David C. Greenway”President & Director For added information, amuse contact:Stamper Investor RelationsPhone: (604) 684-2401 Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Casework Provider (as that appellation is authentic in the behavior of the TSX Venture Exchange) accepts albatross for the capability or accurateness of this release.
This account absolution contains assertive statements that may be accounted “forward-looking” statements. Advanced attractive statements are statements that are not absolute facts and are generally, but not always, articular by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and agnate expressions, or that contest or altitude “will”, “would”, “may”, “could” or “should” occur. Although Stamper Oil & Gas Corp. believes the expectations bidding in such advanced statements are based on reasonable assumptions, such statements are not guarantees of approaching achievement and absolute after-effects may alter materially from those in advanced attractive statements. Advanced attractive statements are based on the beliefs, estimates and opinions of Stamper Oil & Gas Corp. administration on the date the statements are made. Except as appropriate by law, Stamper Oil & Gas Corp undertakes no obligation to amend these advanced statements in the accident that management’s beliefs, estimates or opinions, or added factors, should change.
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