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CASSONA SE: CASSONA's horizontal drilling has been approved

DGAP-News: CASSONA SE / Key word(s): Miscellaneous
CASSONA SE: CASSONA's horizontal drilling has been approved

28.10.2014 / 08:23

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CASSONA's horizontal drilling has been approved

CASSONA has received all necessary permits, approvals and licenses to start
drilling on its oil property in Alberta in Canada the horizontal well on
December 1, 2014.

Frankfurt (28 October 2014) - CASSONA SE (COE) is pleased to announce to
have received all necessary permits, approvals and licenses to drill the
horizontal well on its oil property in Red Earth. The horizontal drilling
will start on December 1, 2014. All necessary infrastructure and access
roads have just been built. CASSONA has secured all necessary services to
complete the drilling of the well and plans to finish the drilling on
January 1, 2015. The oil production on the horizontal well will start
immediately after completion in January 2015.

"Our initial crude oil production on our property in Alberta so far comes
from vertical drilling," a company spokesperson is cited. "With the
horizontal drilling we are able to multiply our production volumes
immediately." CASSONA has successfully started to produce light oil since
January 2014. In 2015 the horizontal drilling shall enhance significantly
the efficient exploitation of the vast proven oil reserves. "It is good
news that the temperatures in Alberta are starting to drop significantly
these days. On the frozen ground it will be way easier to transport the
heavy weights of the drilling equipment. While drilling we are
simultaneously analyzing the drilling results as our completion program
will subsequently be adjusted by our engineers and specialist team to
ensure the maximum penetration of the oil zone until completion in January
2015," the drilling process is described.

CASSONA is an investment company for targets of the business sector oil &
gas 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 Open Market of Frankfurt Stock
Exchange FWB and at Berlin Stock Exchange (ISIN DE000A1C6T63).


CASSONA SE
Schubertstr. 14
60325 Frankfurt Main
Germany

[e-mail]
www.cassona.de

This announcement contains forward-looking statements that are based on
current assumptions and forecasts of the management of CASSONA SE. Known
and unknown risks, uncertainties and other factors could lead to material
differences between the forward-looking statements given here and the
actual development, in particular the results, financial situation and
performance of our company. The company assumes no liability to update
these forward-looking statements or to conform them to future events or
developments.

(c) 2014 CASSONA SE is a European corporation in the legal form societas
europaea (SE) with headquarters in Frankfurt am Main, country of origin
Germany and first quotation at the Danish stock exchange GXG Markets A/S in
the EU regulated market segment GXG Official List.



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28.10.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: CASSONA SE
Schubertstrasse 14
60325 Frankfurt
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.cassona.de
ISIN: DE000A1C6T63
WKN: A1C6T6
Listed: Freiverkehr in Berlin; Frankfurt in Open Market ; GXG


End of News DGAP News-Service
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293614 28.10.2014