Petrichor Announces Completion of Marble Falls Fracture Stimulation of Hinson #1 Well in Young County, Texas
05 March 2014 - 10:00PM
Marketwired
Petrichor Announces Completion of Marble Falls Fracture Stimulation
of Hinson #1 Well in Young County, Texas
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 5, 2014) -
Petrichor Energy Inc. (TSX-VENTURE:PTP)(FRANKFURT:YQN) (the
"Company") announces that fracture stimulation operations were
completed on the Hinson #1 well (the "Well"), on March 4, 2014. The
Company is proceeding with production testing of the lower portion
of the Marble Falls, followed by a completion operation for the
upper portion. Production equipment has been installed, and all
production during the testing period will be sold.
The Well is the first of three wells to be drilled on the Marble
Falls Prospect (refer to News Releases dated December 3, 10, and
12, 2013), located in Young County, Texas within the approximate
surface coordinates of -98.6644182 Longitude and 33.3508939
Latitude.
As previously announced, Petrichor owns a 66.67% working
interest in the Marble Falls Prospect, covering 11,695.33 acres to
date, located within Young County, Jack County, Archer County and
Clay County, Texas.
The Mississippi Lime is a Mississippian age porous limestone
formation that is deposited beneath the Barnett Shale, which is
analogous to the Mississippi Lime play in Kansas and Oklahoma. The
Marble Falls formation is a Pennsylvanian age limestone, analogous
to the Strawn Lime play in West Texas. To date, independent
operators have drilled over 50 vertical and horizontal multi-stage
fraced wells in the Marble Falls and Mississippi limestone with
positive results.
ON BEHALF OF THE BOARD
Joe DeVries, President and CEO
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 release.
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's plans or expectations
include risks relating to: availability of capital and financing
required to continue the Company's exploration and development
plans; general economic, market or business conditions; the actual
results of current and planned exploration activities; fluctuating
commodity prices; risks associated with property option agreements,
leases, joint ventures and the ability to conclude joint venture
agreements on favorable terms; possibility of accidents, equipment
breakdowns and delays during exploration; exploration cost overruns
or unanticipated costs and expenses; regulatory changes and
restrictions including in relation to environmental liability;
timeliness of government or regulatory approvals and other risks
detailed herein and from time to time in the filings made by the
Company with securities regulators. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
legislation.
Petrichor Energy Inc.Joe DeVriesPresident and CEO(604)
336-8615(604) 718-2808www.petrichorenergy.com
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