Cascade Energy, Inc. (the Company) formerly (Pro-Tech Holdings Ltd.) - Cascade Energy acquires Coyote Creek natural gas play, Sacramento Basin California SACRAMENTO, CA, May 10 /PRNewswire-FirstCall/ -- Cascade Energy, Inc. (OTCBB: CSCE), today announces that, further to the news release disseminated on April 20, 2005 concerning the acquisition of certain mineral claims, the Company has executed a farm-in agreement with a private company to acquire a 49% working interest in the Coyote Creek Project. Under the terms of the farm-in agreement, Cascade will earn the 49% working interest in the project by drilling, casing and completing one exploratory natural gas well on the leased acreage. The Coyote Creek natural gas prospect is located at the northern end of Sacramento Basin in Tehama County, California. The prospect is exploring for a new gas field, which is seven miles north of the Corning Gas Field that produced approximately 8 Bcf gas from the Tehama Formation. The primary objective of the prospect is the prolific Upper Cretaceous Forbes Formation. The Forbes Formation contains sands that represent the most prospective gas target at the Coyote Creek prospect. Deeper wells within the prospect area have encountered well developed, reservoir quality sands within the Lower Forbes interval. Based on stratigraphic correlations for the Lower Forbes section within the prospect area, the Company expects to encounter over 1,000 feet of gross (650 feet net) reservoir quality sands and silts at the first well location, named Coyote Creek #1. The potential for Coyote Creek is assuming a closure size in the main fault block of 390 acres. Estimated recoverable gas reserves range from a low-end case with one well of about 2 Bcf to a high-end case, with multiple wells and pay zones, of 28 Bcf. The Coyote Creek prospect is a NW - SE trending faulted anticline with three-way dip closure and fault closure to the southwest. The prospect is situated on the eastern, up-thrown block of the Corning reverse fault, which is also a key structural element at the Corning Gas Field. The Corning Fault is part of a system of faults that are key controlling structural features in strategic gas fields in the area such as the Malton-Black Butte Gas Field (~140 Bcf gas production), the Willows-Beehive Bend Gas Field (~420 Bcf gas production) and the Arbuckle Gas Field (~80 Bcf gas production). These gas fields are located south of Coyote Creek. Several recent analog Forbes discoveries in offset gas fields to the south have initial production rates of between 1,000 and 2,000 Mcf per day. The prospect is based on 2D seismic and well control. A Shell Oil Company well, which is approximately 2,500 feet west of the proposed Coyote Creek #1 drill site location, established the presence of gas and reservoir quality sands in the prospect area with a 1,000 Mcf per day D.S.T. (drill stem test) at 4,100 feet. Seismic data suggests the Shell well is 150 feet structurally down dip of the proposed Coyote Creek #1 well location. Cascade and partners are preparing to drill a 5,000-foot test well to the base of Forbes. The primary objective is at 4,000 feet in a Forbes sand and silt that previously tested 1,000 Mcf per day in the down dip Shell well. Drilling costs are estimated to be approximately $350,000. Additional completion costs also estimated at $350,000 that includes construction of a two-mile pipeline. The drilling contractor, subject to rig scheduling and weather conditions, anticipates that the well will spud in four to six weeks. Safe harbor for Forward-Looking Statements: Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Cascade Energy Inc. has little or no control. ON BEHALF OF THE BOARD Cascade Energy, Inc. "s" Robert Hoegler ------------------------ "Robert Hoegler" Contact: Robert Hoegler 1-888-359-9565 DATASOURCE: Cascade Energy, Inc.; Pro-Tech Holdings, Ltd. CONTACT: Robert Hoegler, 1-888-359-9565

Copyright