Malcolm Todd, Chief Executive Officer of Donnybrook Energy Inc.
("Donnybrook" or the "Company") (TSX VENTURE:DEI), reports that the
Donnybrook operated DEI Bigstone Hz 14-29-60-22 W5M horizontal
well, has been successfully completed and flow tested (DEI: 25%
BPO; 50% APO). The well, after clean-up, produced natural gas and
condensate over the last 24 hours of a 4 day test at approximately
4.3 million cubic feet per day (mmcf/day) of natural gas and 295
barrels per day (bbls/day) of condensate; 1,011 barrels of oil
equivalent per day (boe/day). The well is currently shut-in for
build-up.
The DEI Bigstone Hz 14-29 well has a 1,254 metre horizontal
section and has tested at comparable or better rates to a well in
the Fir area located approximately 5 miles (8 kms) to the south
which was drilled and completed in a similar manner (1,200 metre
horizontal section with 12 stage frac) and reportedly tested
natural gas rates of 3.5 mmcf/day and 225 bbls/day of condensate;
808 boe/day. The operator of that well reported that it has offset
the initial test well with 2 longer horizontal wells with 2,000 and
2,538 metre horizontal sections at locations about 4 miles (6 kms)
south of the DEI Bigstone Hz 14-29 well. The 2,000 metre horizontal
section reportedly tested at rates of 13.1 mmcf/day of natural gas
and 655 bbls/day of condensate; 2,840 boe/day. The 2,538 horizontal
section reportedly tested at 15 mmcf/day of natural gas and 600 -
900 bbls of condensate; 3,100 - 3,400 boe/day.
The DEI Bigstone Hz 14-29 well confirms the Montney formation at
Bigstone is at least comparable in reservoir quality to the Montney
that has been drilled at Fir.
Accordingly, based on the reported production performance of
longer horizontal wells to the south at Fir and the quality of the
Montney reservoir section encountered at Bigstone, Donnybrook has
informed its partners that it intends to licence and drill a 4,800
metre +/- horizontal Montney location, including 2,200 metres +/-
of horizontal length, as a follow-up well at Bigstone in Q4 2011 or
Q1 2012 with the objective of replicating the increased rates
reported at Fir.
At Simonette, Alberta, Donnybrook (50%) and its partner,
Cequence Energy Ltd. ("Cequence") (50%) recently reached Total
Measured Depth of 4,950 metres (including 1,650 metres of
horizontal length) at the Cequence et al Simonette Hz 4-27-61-1 W6M
drilling location. A completion program is currently being
finalized for the Simonette Hz 4-27 well which will likely include
a 16 stage frac treatment. Donnybrook expects the Simonette Hz 4-27
well to be completed and tested within the next two weeks subject
to suitable weather conditions and available crews.
Donnybrook (50%) and Cequence (50%) plan to spud the Simonette
Hz 4-14 Montney location prior to December 1, 2011, subject to
weather conditions and rig availability. Donnybrook (50%) and
Cequence (50%) also have a horizontal Monteny in-fill well planned
for Q1 2012, to be drilled from the Simonette Hz 1-22 discovery
well drill pad.
At Resthaven, Alberta, Donnybrook, as previously reported, has
tied-in the DEI Resthaven Hz 13-27 Montney horizontal well
(Donnybrook 70%) into the ConocoPhillips ancillary gathering
system. The DEI Resthaven Hz 13-27 well was completed but not fully
tested due to the on-set of spring break-up in April 2011. The DEI
Resthaven Hz 13-27 production test will resume in-line as soon as
plant capacity is available at Resthaven.
Donnybrook Energy Inc. holds interests in 45 gross (22.5 net)
sections of petroleum and natural gas rights in its core
Bigstone-Simonette-Resthaven liquid rich natural gas resource play
in the Deep Basin area of West Central Alberta.
The Company anticipates, subject to shareholder and court
approval, to complete its spin-out of non-core assets, into a
recently formed subsidiary in mid-November.
Further information relating to the Company is also available on
its website at www.donnybrookenergy.ca.
ON BEHALF OF THE BOARD OF DONNYBROOK ENERGY INC.
Malcolm Todd, Chief Executive Officer
FORWARD-LOOKING STATEMENTS
Certain information set forth in this news release contains
forward-looking statements or information ("forward-looking
statements"), including statements regarding the increase in
results at Bigstone if longer 2,000 to 2,600 metre horizontal
sections are utilized, the depth and timing of the Company's next
Bigstone well, the resumption of the production test of the 13-27
well, the spud of the Simonette 4-14 well, the timing of the
completion of the 4-27 well, drilling plans for the Company's
Simonette acreage, potential drilling locations, the drilling of
additional wells and the completion of the spin-out of non-core
assets. By their nature, forward-looking statements are subject to
numerous risks and uncertainties, some of which are beyond
Donnybrook's control, including the impact of general economic
conditions, industry conditions, volatility of commodity prices,
currency fluctuations, imprecision of reserve estimates,
environmental risks, operational risks in exploration and
development, competition from other industry participants, the lack
of availability of qualified personnel or management, stock market
volatility and the ability to access sufficient capital from
internal and external sources. Although Donnybrook believes that
the expectations in our forward-looking statements are reasonable,
our forward-looking statements have been based on factors and
assumptions concerning future events which may prove to be
inaccurate. Those factors and assumptions are based upon currently
available information. Such statements are subject to known and
unknown risks, uncertainties and other factors that could influence
actual results or events and cause actual results or events to
differ materially from those stated, anticipated or implied in the
forward looking information. As such, readers are cautioned not to
place undue reliance on the forward looking information, as no
assurance can be provided as to future results, levels of activity
or achievements. The risks, uncertainties, material assumptions and
other factors that could affect actual results are discussed in our
management's discussion and analysis, Annual Information Form and
other documents available at www.sedar.com. Furthermore, the
forward-looking statements contained in this document are made as
of the date of this document and, except as required by applicable
law, Donnybrook does not undertake any obligation to publicly
update or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise.
The forward-looking statements contained in this document are
expressly qualified by this cautionary statement.
Where amounts are expressed on a barrel of oil equivalent
("BOE") basis, natural gas volumes have been converted to oil
equivalence at six thousand cubic feet per barrel. The term BOE may
be misleading, particularly if used in isolation. A BOE conversion
ratio of six thousand cubic feet per barrel is based on an energy
equivalency conversion method primarily applicable at the burner
tip and does not represent a value equivalency at the wellhead.
References to oil in this discussion include crude oil and natural
gas liquids ("NGLs"). NGLs include condensate, propane, butane and
ethane. References to gas in this discussion include natural
gas.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS NEWS RELEASE.
Contacts: Donnybrook Energy Inc. Malcolm Todd President and
Chief Executive Officer (604) 684-2356 (604) 684-4265
(FAX)www.donnybrookenergy.ca
(TSXV:DEI)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
(TSXV:DEI)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
