Unbridled Energy Corp. (TSX-UNE) Updates Shareholders Regarding Chautauqua Lake Properties
In the second quarter of this year, Unbridled Energy acquired a 50% working interest in 13,280 gross acres located within the state of New York. The property was purchased to develop proven, and possibly under-developed, reserves in tight gas sand and shale reservoirs. The company has completed 9 out of 11 initial workover programs and will announce a production update after all the wells are in line for a few months. The remaining workovers are expected to begin within the next two weeks. Schlumberger Data & Consulting Services ("Schlumberger"), an independent qualified reserve estimator, estimates that the reserves hold over…