DGAP-News

CASSONA SE: CASSONA reports further news about the oil production in Alberta

DGAP-News: CASSONA SE / Key word(s): Miscellaneous
CASSONA SE: CASSONA reports further news about the oil production in
Alberta

30.06.2014 / 18:21

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CASSONA expresses its thanks to Accurate Energy Solutions for expanding the
oil production in the Red Earth area in the Province of Alberta in Canada
to the current stage. In the third and forth quarter 2014 CASSONA
implements the second growth phase of the oil extraction to significantly
enhance the production in 2015.

Frankfurt (30 June 2014) - CASSONA SE (COE) gives further updates on the
oil production in Alberta (Canada). Since 2013 CASSONA is developing its
oil property with the substantial support by Accurate Energy Solutions
(www.accuratenrg.com) as CASSONA's strategic partner and local operator of
the exploration license. After the successful start of the oil production
in the first two quarters 2014, CASSONA prepares the expansion of the
extraction to significantly enhance the production in 2015. From 72
possible wells the company plans to drill gradually as many wells as
possible. To implement the second growth phase, the geologists and
engineers already have picked the best locations and the negotiations to
choose the drilling company will be finalized soon. CASSONA completes the
preparations of horizontal drilling from same pad in December 2014 to
perform multistage fracturing, expecting very high production results in
2015. In the current period CASSONA's oil production continues to focus on
the existing vertical well.

"We are so thankful to Michael Turner and his team from Accurate Energy
Solutions to develop our oil production to this stage", expresses CASSONA's
CEO Dr. Guido Quadri. "For CASSONA it is crucial that we are respectful to
the needs and requirements of the nature. That's why the additional
drilling starts only in December 2014, when it is guaranteed that all
swamps, rivers and lakes, which we have to cross with heavy equipment, are
frozen and our impact on the environment is as low as possible." CASSONA
and Accurate Energy Solutions recently have received reference letters by
the local Chief of the First Nations and by the responsible Trapper for
their natural approach. "We will need 20 to 30 days to drill and additional
15 days to recomplete the horizontal wells before the production with the
new wells starts," states Dr. Quadri.

CASSONA is an investment company for targets of the business sectors oil &
gas and other natural resources, mining and related infrastructure. CASSONA
is a European corporation with domicile in Frankfurt Main. The shares are
listed at the regulated market of GXG Markets and they are traded at the