West Hawk to Increase Output and Begin Completion Process on Well 4
12 February 2008 - 10:15PM
Marketwired
DENVER, COLORADO (TSX VENTURE: WHD)(FRANKFURT: H5N) (the
"Company") has finalized completion plans for bringing Well 4 into
production. The Company is also pleased to report that Well 3 has
been producing the past week at production rates predicted in the
Schlumberger pre-frac executive summary, available on our website
at www.westhawkdevelopment.com.
Summary link:
http://www.westhawkdevelopment.com/prefrac_well3.pdf
The Company has been operating in tough winter conditions at the
Figure Four site in Colorado. "All of the gas producers in the
North Piceance Basin will tell you that the weather has been even
worse than last year's winter, which was considered bad as compared
to the previous 3 years that were mild. The snow fall,
below-freezing temperatures, white-out conditions, and
inaccessibility in North West Colorado is as bad as it has been for
several decades," said Richard F. Braun, Independent Director at
West Hawk. "I am extremely proud of the Management Team over the
last 30 days as one or two of the Company's executives have been on
the job site everyday, including weekends, and it is paying off.
They now have 3 wells producing, albeit with some freezing, and
they are headed into bringing Well 4 into production over the next
60 days. They are going to be working on the job everyday until it
is in production", said Braun.
Completion Process Planned for Well 4
- Approximately 5 to 7 miles of access roads will need to be
plowed in order to make the roads accessible for the completion
equipment
- Completion equipment to be transported include: coil tubing
machine, production tubing F device and a swabbing rig
- De-watering will be conducted to ensure the removal of as much
water and frac fluid from the well as possible
- The above flow back process will take a minimum of 2 weeks
before initial gas flow is expected
- Next, a pump lift unit will be installed to run continuously
for approximately 40 to 50 days
- During this time, all of West Hawk's employees will be working
at the site to set and calibrate all of the new production unit
controls
- West Hawk will condition the production unit concurrent with
the pump lift water discharge process
- All of the controls will be installed and the unit will be
ready for production when the frac fluid has been recovered
Also during this time, the Company plans to install a compressor
unit on all 4 wells in order to reduce the back pressure in the
gathering system. "This activity will have the effect of increasing
the output of all 4 wells, yielding higher production and
ultimately revenue", stated Roger A. Baer, CFO.
"The Figure Four gas project is important to West Hawk because
if we can increase output, the cash flow will help develop and
drive our coal gasification plans forward, which we expect will
provide added value for our shareholders and stakeholders", stated
Dr. Wm. Mark Hart, President and CEO.
On behalf of the Board of Directors,
Dr. Wm. Mark Hart, President and Chief Executive Officer
About the Company: West Hawk Development Corp is focused on
providing valuable, high-demand clean energy products from a
variety of sources. Assets include the Figure Four natural gas
property located in the Piceance Basin, Colorado, being developed
under a drilling and development agreement; the Groundhog coal
property located in northwest British Columbia; the Tulita coal
property in the Northwest Territories; and the Ellesmere Island,
Nunavut Territory coal property.
Cautionary Note: This report contains forward looking
statements, particularly those regarding cash flow, capital
expenditures and investment plans. Resource estimates, unless
specially noted, are considered speculative. The Company has filed
a National Instrument 51-101 Report on the Figure Four property.
The Company has filed National Instrument 43-101 Reports for each
of the Tulita coal property in the Northwest Territories, the
Nunavut Coal property and the Groundhog Coal property. Any and all
other resource or reserve estimates are historical in nature, and
should not be relied upon. By their nature, forward looking
statements involve risk and uncertainties because they relate to
events and depend on factors that will or may occur in the future.
Actual results may vary depending upon exploration activities,
industry production, commodity demand and pricing, currency
exchange rates, and, but not limited to, general economic factors.
Cautionary note to U.S. investors: The U.S. Securities and Exchange
Commission specifically prohibits the use of certain terms, such as
"reserves" unless such figures are based upon actual production or
formation tests and can be shown to be economically and legally
producible under existing economic and operating conditions.
The TSX Venture Exchange has not yet reviewed and does not take
responsibility for the adequacy or accuracy of the content of this
news release.
Contacts: West Hawk Development Corp. Dr. Wm. Mark Hart
President and Chief Executive Officer (303) 357-4720 (303) 357-4726
(FAX) Website: www.westhawkdevelopment.com
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