Hawker Resources Announces Chigwell Discovery
|Thursday, January 15, 2004
Hawker Resources has drilled and cased 2 successful wells in the Chigwell area of Alberta. The discovery well at 2-36-42-25W4 was recently production tested at 1 mmcf/d and a second well at 10-29-42-24W4 is cased and currently being completed and tested. The wells are expected to be tied-in in the second quarter of 2004, with 2 follow-up locations planned later in the year. Hawker continues to add to its base of 3500 acres of P & NG leased land in the Chigwell area, a newly established area of interest.
"Based on the success of our 2003 capital program Hawker's initial capital budget for 2004 has been established at $55.8 million" said Mr. Tuer. Hawker plans to drill a minimum of 20 (13 net) wells in the first quarter of 2004. The program is already underway with 3 (1.5 net) operated wells currently drilling to evaluate natural gas prospects in North Boundary and Wild River. Consistent with the company's organic growth strategy, the first quarter drilling program is focused primarily on high quality natural gas prospects.