Arkanova to Wrap Up Ops at Montana Well

Arkanova, through our subsidiary Provident Energy Associates of Montana, enters the completion phase after finishing the drilling, casing and cementing portion of the Tribal-Max 1-2817. The well was directionally drilled to a total depth of 6,808 ft. Approximately 2,700 ft landed within the Lower Cut Bank Sand and 91.7% of the lateral leg was placed in the target zone. The Tribal-Max 1-2817 is in the Two Medicine Cut Bank Sand Unit located at SE1/4 SW1/4 Section 28, T32N, R6W, P.M.M., Glacier County, Montana.

Provident Energy is currently working with Schlumberger on a completion program for the well. In addition, the company is implementing infrastructure upgrades to manage the initial production of the Tribal-Max 1-2817. As far as the vertical test of the lower targets, we anticipate the results of the logging and coring within the month.

Provident Energy operates the TMCBSU and was acquired by a subsidiary of Arkanova Energy Corporation in October, 2008.

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