SEATTLE--(BUSINESS WIRE)--Spectral Capital Corporation, (FCCN.QB) (F3SN:F) announced today that it had finished the recompletion and reconditioning of its first oil well on its newly acquired Alberta property with production beginning imminently. There are seven other drilling locations on this property that Spectral intends to develop.
'Spectral is exceptionally pleased that our first producing well has been successfully recompleted, ahead of schedule, and that revenues will be generated immediately. We are looking forward to realizing profits from this first well and expect that production will provide us with revenues sufficient to cover overhead and to fuel expansion efforts for the development of the property.' Concluded CEO Jenifer Osterwalder.
About Spectral
Spectral Capital Corporation acquires and develops natural resources projects worldwide. Spectral has a synergistic, balanced, mutually reinforcing growth strategy focused in three areas: Near Term: Acquisition of Cash Flow Producing Oil and Gas Properties; Medium Term: Development of a Substantial, Producing Oil and Gas Asset Portfolio and Long-Term: Large Scale Natural Resources Projects for Future Growth.
PRESS RELEASE FORWARD LOOKING STATEMENT: This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as 'expects,' 'will,' 'intends,' 'plans,' 'believes,' 'anticipates,' 'hopes,' 'estimates,' and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.