Donnybrook Energy Inc : Bigstone Drilling & Operations Update by 24hgold

Marketwire


Donnybrook Energy Inc.
TSX VENTURE:	DEI

Other Recent News \| Printer Friendly Version

January 26, 2012
Donnybrook Energy Inc.: Bigstone Drilling & Operations Update
CALGARY, ALBERTA--(Marketwire - Jan. 26, 2012) - Donnybrook Energy Inc. ("Donnybrook" or the "Company") (TSX VENTURE:DEI) reports that the Company's second Bigstone area horizontal well, Donnybrook Bigstone Hz 15-32- 60-22 W5M (50% working interest) encountered 2,744 metres of high quality Montney reservoir with strong gas shows and excellent penetration rates during drilling. The reservoir encountered is comparable to the Montney interval that was successfully completed in the Donnybrook Bigstone Hz 14- 29-60-22 W5M (1,200 metres horizontal length) Montney discovery well which tested 4.3 mmcf/d and 295 barrels of NGLs (1,011 barrels of oil equivalent per day). The reservoir quality encountered while drilling the 15-32 well confirms the play and reservoir quality of the Montney at Bigstone extends at least as far north as the northern boundary of Donnybrook's 1,792 hectares 7 section (896 hectares 3.5 section net) contiguous land interests. The 15-32 well is currently flowing natural gas, natural gas liquids and hydraulic fracture fluids and is undergoing clean up after completion of the 23 stage hydraulic fracture operation. During the hydraulic fracture operation, mechanical complications were encountered that have limited the number of stages that have definitively been identified as successful. The final 5 fracture stages were successfully completed with approximately 120 tons of proppant and fracture fluids placed. At this time, preparations are underway to put production tubing in place and to continue to flow the well. The flow rates for the 15- 32 well will be released once the well has had further time to clean up and the rates are stabilized. A 2,760 metre extended reach horizontal well has been recently drilled and completed by an industry competitor offsetting Donnybrook's lands 800 metres to the west and parallel to Donnybrook's 14-29 well. This well terminated approximately 200 metres from Donnybrook's land block. The operator of the well reported a final 24 hour test rate, after a 4 day flow period, of 12.5 mmcf/d and 770 barrels of condensate per day and an estimated 30-35 bbls of NGLs/mmcf. This well further demonstrates the potential of the Montney reservoir to the west and indicates the reservoir continues to the northwest onto Donnybrook's land block. Surveys have been completed and contracts are in place to construct a 1.5 mile tie-in for the 14-29 and 15-32 wells. Both wells were drilled from the same surface location and will be tied into shared surface facilities and pipeline. Field construction operations for the pipeline are expected to commence in mid February with the facilities ready for production to start April 1st. Donnybrook is currently waiting on final surface lease approval to commence construction of 2 drilling pads that will facilitate the drilling of up to 6 additional horizontal Montney wells. Construction of the first surface wellsite is expected to be completed by mid February. Donnybrook anticipates this well will be drilled from a surface location at 4-28-60-22 W5M and will spud prior to the end of February. Donnybrook Energy Inc. holds interests in 45 gross (22.5 net) sections of petroleum and natural gas rights in the Bigstone-Simonette-Resthaven liquid rich natural gas resource play in the Deep Basin area of West Central Alberta providing a potential drilling inventory of up to an equivalent of 180 gross (90 net) Montney horizontal drilling locations. ON BEHALF OF THE BOARD OF DONNYBROOK ENERGY INC. Malcolm Todd, President and 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 pipeline construction, production timing, the drilling pad facilitation of up to 6 additional wells, the timing of surface wellsite construction, the timing of the drilling of the 4-28 well and the number of potential Montney horizontal drilling locations. 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 incl ude 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.

CONTACT INFORMATION:

Donnybrook Energy Inc.
Malcolm Todd
President and Chief Executive Officer
(604) 684-2356
Fax: (604) 684-4265

INDUSTRY: Energy and Utilities - Oil and Gas

Footer

If you no longer want to receive announcements from us, please do not reply to this e-mail. Instead simply click .

Légende
	Production
	Mine développement
	Découverte
	Exploration
	Ancien producteur
Sur Google Earth, cliquez sur les pictogrammes, pour voir les informations du projet, accéder à sa page, ou à la page de la compagnie.