PetroWorth Spuds Feenan #1 Well in New Brunswick

PetroWorth Resources has commenced drilling operations at the Feenan #1 well in New Brunswick. The well is located in Albert County about three kilometers west of the historic Stoney Creek field, which has produced 800,000 barrels of oil and 30 billion cubic feet of natural gas to date.

Feenan #1 will be drilled to a total depth of 1500 meters with the aim of encountering the Hiram Brook, Frederick Brook and Dawson Settlement formations. The primary objective of the well is to evaluate the natural gas potential of the Hiram Brook sands at depths between approximately 600 and 1000 meters. PetroWorth expects it will take 15 days to drill and evaluate the well.

Feenan #1 is named in honor of the late Ken Feenan, a prominent if not legendary figure in Toronto's Bay Street financial community for more than three decades. Ken was instrumental in the start-up and growth of PetroWorth and remained a close friend to the company until his passing on May 19, 2006.

PetroWorth Resources Inc. is a junior oil and gas exploration company with extensive onshore properties in Eastern Canada. The Company has acquired 100% working interests in almost one million acres in nine separate exploration permits on Prince Edward Island, Nova Scotia and New Brunswick. The strategy of the company is to conduct aggressive exploration programs on these permits, both internally generated and through advantageous farm-in arrangements.


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