Petrodorado Spuds Verdal-2X in Talora Blockadmin
Petrodorado Spuds Verdal-2X in Talora Block
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
Calgary, Alberta CANADA, November 19, 2013 /FSC/ – Petrodorado Energy Ltd. (PDQ – TSX Venture), is pleased to announce the start of drilling operations for the exploration well, Verdal-2X, in the Talora Block, located in the Upper Magdalena Basin of Colombia.
The Verdal-2X exploration well was spudded on November 17, 2013 and is targeting the sands within the Hondita Formation, which lies above the Tetuan Formation source rock. The well is expected to reach 5,000 feet True Vertical Depth (TVD) on November 28, 2013, which will satisfy the only current commitment on the block.
Petrodorado has a 65% operated working interest in this block.
About Petrodorado Energy Ltd.
Petrodorado is primarily engaged in petroleum and natural gas exploration and development activities in Colombia. Its head office is located in Calgary, Alberta, Canada and Petrodorado’s common shares are traded on the TSXV under the trading symbol “PDQ”.
For further information, please contact:
Gregg Vernon, Interim President and CEO
Chris Reid, VP of Finance and CFO
Forward Looking Statements
This news release includes forward-looking statements related to expected occurrences in relation to the Company, in particular with respect to the seeking of strategic alternatives and the possible expansion of the board of directors. A multitude of factors can cause actual events to differ significantly from any anticipated development and although Petrodorado believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. These forward looking statements are based upon assumptions that Petrodorado has made concerning the oil and gas industry in Colombia, the capital markets in Canada and globally, the availability of suitable candidates for the board of directors and the continuing market for oil and gas. Risk factors may include the current volatility in the capital markets, risks associated with conducting operations under a foreign regime, the lack of availability of suitable candidates for the board of directors or a lack of interest of suitable candidates in joining the board and the fluctuating price of oil and gas. Neither Petrodorado nor any of its subsidiaries nor any of its officers, directors or employees guarantees that the assumptions underlying such forward-looking statements are free from errors, nor do any of the foregoing accept any responsibility for the future accuracy of the opinions expressed in this document or the actual occurrence of the forecasted developments.
Although the Company believes that the expectations represented by the forward-looking statements contained herein are reasonable, undue reliance should not be placed on the forward-looking statements because there can be no assurance that such expectations will be realized. The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF, please click on the following link:
PETRODORADO ENERGY LTD.
Suite 3100, 250 – 6th Ave S.W.
Calgary, Alberta, Canada T2P 3H7
Tel: (403) 800-9240
Fax: (403) 800-9241
Source: Petrodorado Energy Ltd. (TSX-V: PDQ) http://www.petrodorado.com
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Posted: November 19th, 2013 under FSCWIRE.