Canuc plans another gas well on the Thompson lease in West Texas
www.canucresources.ca
FOR IMMEDIATE RELEASE TSX-V: CDA | CNUCF | WKN: A14 ZX4
February 14th, 2018 LEI: 549300ZHOHMQNXJT7S74
Shares Outstanding: 45,714,150
Canuc plans another gas well on the Thompson lease in West Texas
Canuc Resources Corporation (“ Canuc” or the “ Company”) (TSX-V: CDA) is pleased to
announce plans for drilling another gas well on the Thompson lease in Stevens County, West
Texas. The Company currently has 6 producing gas wells on the Thompson lease, and there are a
number of offset locations which can be drilled.
Wells drilled on the Thompson lease have iden tified 3 productive horizons. Decline rates for
natural gas production in the lowest and first pr oductive horizon, the Iona Hickey Conglomerate,
have proven slow which suggest s a robust natural gas endowmen t and a long field life. Above
the Iona Hickey Conglomerate zone there are 2 further productive horizons . The first of these 2
further horizons is the Caddo Limestone, which is a well-known oil producer in the area. Further
up the pipe is the Strawn Sand which is a gas zone. Both the Caddo Limestone oil zone and the
Strawn Sand natural gas zone can be produced pur suant to sufficient de cline of natural gas
production from the lower Iona Hickey Conglomerate zone.
The 6 producing wells on the Thompso n lease are connected to a s hort collector line which ties
into a major natural gas line a few miles distance . This line supplies consumers local to Steven’s
County and ensures a higher net gas price as a result of low transportation costs.
So far, the initial 6 wells on the Thompson lease have experienced slow decline rates, producing
at in excess of 80% of initial production rates after 5 years of operation, and ar e still producing
gas from the first of the thr ee productive horizons (Iona Hickey Conglomerate). The addition of
new wells can potentially contribute further to oil and natural gas operations.
“Monthly revenues have helped us to cover co rporate and public company expenses, and have
assisted us in preventing unnecessary share dilu tion and treasury share issuance while permitting
us to work at developing shareh older value with our high quality silver-gold metal assets at the
San Javier Project in Mexico. By drilling additional ‘in field’ natural gas wells in West Texas, we
are seeking to expand on, and further, this strategy,” stated Hub Mockler, Executive Chairman.
About Canuc
Canuc is a junior resources company whose prin cipal focus is exploration and development of
the San Javier Silver-Gold Project located 146 km east of Hermosillo in Sonora State, Mexico.
The company also generates cash flow from natural gas production in Central West Texas, where
Canuc has an interest in seve ral producing gas wells, and has rights for further in field
developments.
For further information on the content of this release or about Canuc Resources, please contact:
www.canucresources.ca
Canuc Resources Corporation
416 548 - 9746
Disclaimer and Forward-Looking Statements
Forward-Looking Statements: This news release contains forward-looking statements that include risks and
uncertainties. When used in this news release, the words “estimate”, “project”, “anticipate”, “expect”, “intend”,
“believe”, “hope”, “may” and similar expressions, as well as “will”, “shall” and other indications of future tense,
are intended to identify forward-look ing statements. The forward-lookin g statements are based on current
expectations and apply only as of the date on which they were made. The factors that could cause actual results
to differ materially from those indicated in such fo rward-looking statements incl ude changes in the prevailing
price of gold, the prevailing price of natural gas, the Canadian-United States exchange rate, amount of gas
produced that could affect revenues and production costs. Other factors such as uncertainties regarding
government regulations could also affect the results. Other risks may be set out in the Company’s annual
financial statements and MD&A.