Canyon Creek Initiates Workover Program

Canyon Creek Oil & Gas has initiated its plan to workover 17 wells located on its 960-acre leasehold in Archer County Regular Field.

Steven A. Fall, Canyon Creek's project geologist, has mobilized a roustabout crew to survey the properties prior to moving in a work-over rig owned by a local rig operator. The roustabout crew will move in road building equipment to make ready the roads for the heavy oil field equipment. Canyon Creek will move the existing saltwater disposal system approximately 5,000 feet in order to be adjacent to the saltwater disposal well located on its leasehold. After moving the system, the plan is to modernize the salt-water disposal system to accommodate additional water anticipated after the work-overs are completed. New flow-lines will be installed and the saltwater disposal pump overhauled.

The Archer County Regular Field project is located south of Wichita Falls, Texas, in Archer County. Canyon Creek's Archer County Regular Field project consists of 960 acres with 17 wells overlying multiple producing horizons (the Vogtsberger sands, the Caddo and the Ellenberger formations). A production history for the past 10 years shows the 960-acre leasehold averaged 25 barrels of oil per day from 9 of the wells. Canyon Creek has one existing saltwater disposal well and plans to dedicate two wells for future water injection. The remaining 14 wells are scheduled for work-over immediately in order to maximize oil production.

"Our workover plans include changing down-hole pumps to increase fluid movement," said Canyon Creek's President, Donald Orr. "We know the oil is there and it all becomes a function of producing more fluids to maximize oil production. We are very excited about this project because once all 14 wells are producing with new and larger capacity pumps, we could exceed our 25 bopd expectation by 1.5 to 2 fold."

Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring oil and gas producing properties, low risk drilling prospects, and prospects in need of state-of-the-art technology to improve viability. Canyon Creek Oil and Gas Inc. has 60 wells located on 2,000 acres in the Fort Worth basin in its current portfolio. The Company is evaluating the properties for Barnett Shale prospects.

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