Gale Force Petroleum Inc. has re-entered and started natural gas production from four of the nine wells recently acquired on its Kentucky Appalachian Shale Gas Property. The four wells are currently being dewatered to increase production. This represents the first step of the Corporation's initial "Phase 1" development program.
The program is already underway and is expected to be complete by end of year 2008. The program will see the Corporation complete, tie-in and commence production from all nine existing wells on the Kentucky Property. The Corporation will also drill and cut cores on three additional vertical wells.
These additional wells will be put on production and core analysis performed. The coring analysis will extract improved geological knowledge of the property and provide field-specific porosity, organic content and original gas in place for the completion of a reserves analysis on the property.
Upon completion of the initial development program, the Kentucky Appalachian Shale Gas Property is expected to generate significant operating cash-flows from an initial total twelve wells on production. The results of the initial development program will be utilized in preparing the next phase development of the Kentucky Property, which is planned to be a long-term, multi-well drilling program.
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