| April 13, 2011 |
| Donnybrook Energy Inc.: Deep Basin Operations Update |
CALGARY, ALBERTA--(Marketwire - April 13, 2011) - Malcolm Todd, Chief Executive Officer of Donnybrook Energy Inc. ("Donnybrook" or the "Company") (TSX VENTURE:DEI) reports that it has successfully completed the Donnybrook operated 13-27-61-02 W6M (70% working interest) horizontal Montney location at Resthaven, Alberta with a 12-stage fracture stimulation program. The 13-27 well, which is located approximately four miles northeast of Celtic Exploration's 02-07 discovery well, was flowed up seven inch casing at rates of up to 3.25 MMCF per day of natural gas on frac clean-up.
The frac clean-up was suspended and the well has been shut-in due to the on-set of spring break-up. During the abbreviated frac clean-up, the well had only recovered 30% (1,900 m3 of the 6,500 m3) of the frac fluid. In light of information received to date, Donnybrook and its partner, Celtic Exploration (30%) will proceed with tie-ing in the well as soon as conditions permit. The tie-in point is located within 200 metres of the 13-27 wellhead. Once the well is tied-in, the frac clean-up will resume to recover the balance of the frac fluid and the well will be flow tested in-line to determine an estimated flow rate and liquids (oil and NGLs) content, which is expected to be approximately 50 barrels per MMCF.
At Resthaven, Donnybrook has 5 gross (2.66 net) sections of Triassic Montney P&NG rights located five miles west of the western edge of the Company's Simonette acreage block.
Bigstone, Alberta
At Bigstone, Donnybrook as operator, plans to spud a horizontal Montney well (25% BPO/50% APO) in July 2011. The well is located within five miles of a recently announced liquids rich natural gas well drilled by an industry partner. After clean-up, the well reportedly flowed on test over the last day at an average rate of 13.1 MMCF per day of natural gas, with an expected liquids (oil and NGLs) yield of approximately 50 barrels per MMCF. Donnybrook holds a 100% working interest in 9 sections of Triassic Montney P&NG rights at Bigstone.
Simonette, Alberta
At Simonette, Donnybrook will be participating as to a 50% working interest in a horizontal Montney well, operated by Cequence Energy, in July 2011. Donnybrook plans to drill two additional horizontal Montney locations on its 38 section (22 sections net) Simonette acreage block prior to year end.
Donnybrook has working interests in 58 gross sections (42 net sections) prospective for Montney, Bluesky, Wilrich and Falher liquid rich resource development in the Deep Basin providing a potential current inventory of 168 net drilling locations.
The Company reports that it has filed its financial statements and management's discussion and analysis for the year ended December 31, 2010 on SEDAR and which can be viewed under Donnybrook's profile at www.sedar.com. Copies of information can also be obtained by contacting the Company.
The Company's Annual General Meeting will be held on May 25, 2011 in Calgary, Alberta. Mailout of meeting materials will occur at the end of April.
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 completion and tie-in of the 13-27 well, the expected liquids content of the 13-27 well, the spud of the Bigstone well, expected flow-rates of an industry partner well, drilling plans for the Company's Simonette acreage, potential drilling locations, the drilling of additional wells and the timing of the mailout of the Company's annual meeting documents. 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 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.
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. | |