Eagle Rock Exploration Ltd. has reported positive production developments during Q3 2008.
Current production is approximately 600 boe/d, almost 200 boe/d higher than Eagle Rock's average production in Q2 2008. During Q3, Eagle Rock added production at Beverley, SK and Red Coulee, AB, and has an additional 60 boe/d awaiting tie-in at Enchant and Spring Coulee, AB. Eagle Rock is continuing with an active drilling program for the balance of 2008 and throughout 2009.
The majority of the production increase comes from Eagle Rock's Beverley property in southwest Saskatchewan where the Company has a new oil pool discovery in the Centaur zone. Current production from one horizontal and four vertical wells sits at approximately 130 bbls/d. This pool is now being further defined. Given Eagle Rock's operational success in this area, the Company is focusing on an accelerated drilling program of up to six horizontal wells and 3 vertical wells in Q4 2008. Horizontal wells in Beverley, Saskatchewan are subject to a nominal crown royalty on the first 38,000 bbls of production.
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