As usual they pretend to be the sole owners/operators, love their humility.....LOL
Vital Resources to Step-up Investor Relations Programs
/NEWS RELEASE - NOT FOR DISTRIBUTION IN THE UNITED STATES/
CALGARY, March 27 /CNW/ - Vital Resources Corp. ("Vital") (CNQ Exchange -
VITL; Frankfurt Stock Exchange - VZN) is pleased to announce that they have
entered into an agreement with Syndicated Capital Corp. and A. Salman Jamal of
Vancouver for investor relations services.
Effective immediately Syndicated will work with Vital Resources to
increase awareness in the investment community.
Vital Resources is an emerging oil & gas company focused on building
value through immediate offshore oil development of its world-class
exploration properties in the Philippines.
SC 50 - Calauit, NW Palawan
Vital has made arrangements to take delivery of a Multi Purpose Semi
Submersible Rig in late 2007. This will allow Vital to take action on their
detailed well planning and design for the drilling of the horizontal re-entry
of the Calauit 1B in SC50. Calauit's history of production, in concert with
independent expert, MBA Petroleum Consultants, has determined that the Calauit
1B oil field may contain up to 39.5 million barrels of oil, of which 6.44mm
are recoverable.
SC 55 - Ultra Deep Water, Palawan
Vital was able to shoot 400 kilometers of 2D seismic under this program
in October of 2006 and expects the interpretation of this seismic data to be
completed in Q1 2007. The current focus on SC 55 is on the Marantao prospect,
a carbonate, reef, build up of substantial size, interpreted, through
reprocessed 2D seismic, to be potentially five times larger than the Malampaya
structure, which is the Philippines largest oil and gas field which is
presently operated by Shell and is estimated by the Department of Energy of
the Philippines to contain up to 500-750 MMBO or 2.5-4.0 TCF of recoverable
gas.
SC 51 - East Visayan Basin
Vital acquired the exploratory block, in SC51, which consists of two
sub-blocks over the East Visayan Basin. The southern block contains seven
identified prospects of which three are drill ready, with a combined potential
of 75-465 MMBOE as estimated by MBA Petroleum Consultants of Australia.
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