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CALGARY, June 12 /CNW/ - Fairmount Energy Inc. ("Fairmount" or the"Company") (TSX-V - FMT) is pleased to announce the commencement of its 5 wellsummer drilling program.
Drilling has commenced on the first (0.5 net) of 2 wells (1 net) plannedfor the Gold Creek area in the summer drilling program. These wells aretargeting multi-zone liquid-rich gas and oil.
In addition, as part of Fairmount's strategy in exploring for oilreserves, the company plans to drill 2 wells (2 net) in the Chin Coulee areaof southern Alberta. These wells are planned for early July as surfaceconditions permit. Fairmount will also drill one well (1 net) following up ourJanuary, 2008 discovery in the Thorsby area of west central Alberta.
About Fairmount
Fairmount is an emerging junior oil and gas exploration, development andproduction company with oil and gas properties located in Alberta, Canada.Fairmount trades on the TSX Venture Exchange as FMT and currently has17,184,389 common shares outstanding. Additional information regardingFairmount can be found at their website www.fairmountenergy.com and on sedarat www.sedar.com.
Forward-Looking Information
This news release contains forward-looking information, including but notlimited to future exploration and development plans. This information relatesto future events or the Company's future performance. All statements otherthan statements of historical fact are forward-looking information. By itsnature, forward-looking information involves numerous assumptions, known andunknown risks and uncertainties, both general and specific, that contribute tothe possibility that the predictions, forecasts, projections and otherforward-looking statements will not occur.
Although the Company believes that the expectations reflected in theforward-looking information are reasonable, there can be no assurance thatsuch expectations will prove to be correct. The Company can not guaranteefuture results, levels of activity, performance, or achievements. Moreover,neither the Company nor any other person assumes responsibility for theaccuracy and completeness of the forward-looking information. Some of therisks and other factors, some of which are beyond the Company's control, whichcould cause results to differ materially from those expressed in theforward-looking information contained in this news release include, but arenot limited to failure to obtain industry partner and other third partyconsents and approvals, when required; and third party performance ofobligations under contractual arrangements. Subject to the company'sobligations under applicable securities laws, the Company is not under anyduty to update any of the forward-looking information after the date of thisnews release to conform such information to actual results or to changes inthe Company's expectations.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
