Wedgemount Announces Commencement of Summer Field Program and Production Update

June 11, 2024 8:30 AM EDT | Source: Wedgemount Resources Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 11, 2024) - Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ("Wedgemount" or the "Company"), is pleased to announce details of its upcoming summer 2024 field program focusing on the Company's recently acquired TCS assets.

The TCS leases consist of eight vertical production wells and one injector. All eight wells will undergo workovers and chemical treatments similar to our Willowbend and Millican assets. To date, the average sustained production increase of Wedgemount's treated and optimized wells has been approximately 7x.

The Company anticipates the program will run from June 16 through to mid-July. Post program completion, Wedgemount is optimistic that the Company will continue to see strong production and reserve gains.

Production Update

Wedgemount's current production is at a new corporate high of 285boepd. Of note, the average production per well on our fully optimized McBeth, Pirtle and Davis leases is 22.1boepd.

Future Growth Opportunities

Wedgemount continues to be focused on further growth opportunities in our immediate operating area and is optimistic that one or more additional acquisitions could be completed during calendar 2024.

About Wedgemount Resources Corp.

Wedgemount Resources is a junior oil & gas company focused on maximizing shareholder value through the acquisition, development and exploitation of natural resource projects in the southern USA.

On behalf of the Board of Directors,

Mark Vanry, President and CEO

For more information, please contact the Company at:
Telephone: (604) 343-4743

Reader Advisory

This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.

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