CONTACT EXPLORATION ANNOUNCES NEW WELL IN DEEP BAS
Contact begins drilling second Kakwa well
2012-08-22 18:46 ET - News Release
Mr. Steve Harding reports
CONTACT EXPLORATION ANNOUNCES NEW WELL IN DEEP BASIN MONTNEY PROJECT
Drilling commenced today on Contact Exploration Inc.'s CEX HZ 14-30-63-5W6 well, being the second well drilled by the company on its Deep basin Montney lands at Kakwa. The well is targeting the Montney formation and is located approximately two miles from the company's initial Montney well, which tested at greater than 2,500 barrels of oil equivalent per day. The new well is programmed for a total drilled length of 4,684 metres, including a horizontal leg of 1,200 metres. Contact operates the well with a 25-per-cent working interest. Contact anticipates that the drilling of this well will be finalized by October, 2012, with well completion (stimulation and testing) to be completed by November, 2012. Additionally, the company confirms that the pipeline construction to tie in the company's initial well in the Kakwa area continues, with anticipated construction completion by late September, 2012.
We seek Safe Harbor.