Western Potash (TSX-V: WPX) announced today that drill hole data from their potash exploration program has returned data suggesting the presence of hydrocarbons. An evaluation by a petroleum geologist suggests two formations are targets for significant natural gas.
Patricio Varas, the CEO of WPX is quoted saying:
The possibility of having sizable natural gas pools sitting on the door step of our Potash deposit would represent a significant advantage to any future plans to develop the Milestone potash resource.
The release goes on to say that “[WPX] contemplates that should production of hydrocarbons be possible and viable, that any production in excess of Western’s energy needs to run its potash operations would be sold into the existing gas pipeline infrastructure. The Trans Canada Pipeline lies adjacent to the potential natural gas zone.”
