Today, Appia Energy Corp. (TSX-V: APA) (OTCQB: APAAF) (Frankfurt: A0I.F) announced that its Corrected Target IV Total Area has been identified in the Keg River Project Area in northwest Alberta. The Company is preparing to commence drilling to assess the potential of the area based on the newly identified target.
The Corrected Target IV is located in a 600-acre bloc along the Keg River in northwest Alberta. The Corrected Target IV Total Area is separated from the Company’s existing drill targets by approximately two kilometers.
Appia’s Director of Exploration and Geoscience, Dr. Bill Drebert, commented on the discovery: “We are very pleased to announce the identification of the Corrected Target IV. The number of potential drilling targets has now increased from our original three target areas to four. The additional area, located in the northeast corner of the Keg River project, also provides the potential for several uncapped tight gas sands during initial exploration drill program. The potential for additional targets once drill testing is complete is exciting.”
Appia is implementing a strategy designed to develop a portfolio of contacts and investment opportunities in the oil and gas sector. The Company’s goal is to boost its annual cash flow and to build a base of long-term reserves and production. Appia’s strategy is also to increase its management, drilling and refurbishment abilities in relation to gas exploration.
Appia’s President and CEO, Michael Curtis commented: “Our Corrected Target IV is exciting news and provides us with an additional opportunity to strengthen our cash flow. Appia is confident that our team will find success in this new area, both from our existing three targets as well as the recently announced Corrected Target IV.”
Appia’s new Corrected Target IV Total Area in northwest Alberta will be followed closely by investors and stakeholders in light of expectations for further discoveries. Investors are also looking forward to seeing the potential for additional targets in the new area.
