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MGM Energy Gets Green Light For Canada Shale Well

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July 31, 2012

MGM Energy Corp. announced that it has received a Land Use Permit and Water License from the Sahtu Land and Water Board to drill a vertical well on EL466B in the Canol shale oil play in the winter of 2012/13.

The vertical well, East MacKay, will include logging, coring and multiple fracs to assess the potential of the Bluefish and Canol Formations.

As announced in its press release of June 28, 2012, MGM Energy has entered into a farmout agreement with Shell Canada Energy ('Shell') whereby Shell will fund 100% ...


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