CN Resources Inc. (OTCBB: CNRR) has spudded its first of the two offset oil wells in Alberta, Canada.
CNRR has 50% equity working interest in the two offset oil wells in 55-20W4 area of Alberta.
According to the release, the first well is offsetting a current producing well that has been producing since September 1995 The well is presently producing 80 barrels per day of light oil and the existing well has produced 290,000 barrels of light oil so far.
CN Resources Inc. is an exploration stage company engaged in the acquisition, exploration, and development of natural resources properties. The company is headquartered in Toronto.