Investcan Energy Corp. has reentered and plans to deepen the Hurricane-2 well on the 96-107 permit in western Newfoundland.
Vulcan Minerals Inc., St. John’s, drilled Hurricane-2 in 2005 to 935 m and found petroleum shows in the shallow section. It was suspended pending further evaluation at that time. Investcan is deepening the well to further evaluate the geologic section and petroleum prospectivity.
Investcan has also re-entered and is working over Gobineau-1, a well drilled in late 2012 on the 03-106 permit. Investcan’s previously announced two new proposed wells, Thoulet-1 and 2, are proceeding through the environmental review process.
Vulcan Minerals owns a 2% gross overriding royalty on the 03-107, 03-106, and 96-105 permits totaling 250,000 acres in the Bay St. George basin.