LongBow Energy Corp. Announces Workover at Garrington
LongBow Energy Corp. (TSX VENTURE:LBV “LongBow”) together with its partner in the Garrington area, recently completed a third producing zone in its original Garrington well. The well is producing 65 Barrels of light oil per day and 800,000 cubic feet per day of gas from the commingled producing formations in the well. The gas, which has been tied into a processing facility in the area, is liquids rich and yields approximately 50 barrels of gas liquids per million cubic feet of gas.
LongBow holds a 20% working interest in the well before payout. Assuming a 6:1 conversion and considering gas liquids, LongBow expects to net approximately 46 BOEPD from the well. This is an approximate increase in production of 40 BOEPD for LongBow.
An offset well to this producing well has been spudded and LongBow and its partner expect to reach total depth within 15 days. LongBow has a 5% working interest in the offset well.
LongBow is a junior oil and gas company listed on the TSX Venture Exchange with properties located in Alberta at Cold Lake, Leduc, Leahurst, Tofield, Garrington, Three Hills and in the Meadow Lake, Saskatchewan area.
This press release contains forward-looking statements including expectations of future activities, production, drilling inventory and wells to be drilled, the timing of drilling and/or tie-in of wells, productive capacity of new wells and capital expenditures in the timing thereof. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; ability to retain drilling rigs and other services; delays resulting from or inability to obtain required regulatory approvals; delays or changes in plans with respect to exploration or development projects or capital costs; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses and health, safety and environmental risks); ability to access sufficient capital from internal and external sources; commodity price and exchange rate fluctuation. The reader is cautioned not to place undue reliance on this forward-looking information.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Tamara Yourth Longbow Energy Corp. (403) 264-4722 (403) 269-5518 (FAX)
Source: LongBow Energy Corp.