The well has been completed in one Bossier zone and was placed on sales on February 13, 2007 at an initial gross rate of approximately 8.0 MMcfd. An additional Bossier zone in the Wildman Trust #2 well is being evaluated for completion and co-mingling later this quarter. Gastar has a 67% after casing point working interest and an approximate 50% net revenue interest in the well.
Commenting on the results, J. Russell Porter, Gastar's President & CEO, stated, "We are pleased to have the Wildman Trust #2 well on production. We also are moving forward with completion operations on the Williams #1 and the John Parker #2 wells. The continued successful exploitation of the Bossier formation on our acreage and on surrounding acreage by ConocoPhillips and EnCana Corporation confirms the deep Bossier as a maturing resource play with tremendous upside potential."
Gastar Exploration Ltd. is an exploration and production company focused on finding and developing natural gas assets in North America and Australia. The Company pursues a balanced strategy combining select higher risk, deep natural gas exploration prospects with lower risk coal bed methane (CBM) development. The Company owns and operates exploration and development acreage in the Deep Bossier gas play of East Texas. Gastar's CBM activities are conducted within the Powder River Basin of Wyoming and upon the approximate 3.0 million gross acres controlled by Gastar and its joint development partners in Australia's Gunnedah Basin, PEL 238 and Gastar's Gippsland Basins located in New South Wales and Victoria, respectively.
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