Portrush Spuds Exploratory Well in Ontario

Portrush has commenced drilling an exploratory well on its Waubuno property in Moore (St. Clair) Township, Lambton County, Southwestern Ontario. A Notice of Intent to Commence Drilling Portrush et al #2, Moore 6-12-III Well License # 11901 operated by Portrush Petroleum Corporation was filed by Hadley Resources with the Ministry of Natural Resources on Monday October 20th.

In early August the Company received a favorable geophysical report and interpretation from its consultants in Calgary. A good Niagaran pinnacle reef anomaly is reported to lie within the 150-acre unit known as the Waubuno Prospect, which was spaced and pooled by Portrush in 2005 and 2006. In 2007 the Portrush et al #1, Moore 5-13-III exploratory test was drilled and was suspended after encountering near reef geological conditions. This Well was drilled on limited 2D Seismic data and the original interpreted anomaly is now considered as "side swipe" to a pinnacle reef.

The drill-site has been chosen to test the interpreted crestal position of the postulated pinnacle reef.
The prospect is on trend and mid point between two pinnacle reef gas storage pools, Kimball Colinville and Waubuno. Both pools produced approximately 6.00 BCF before being converted to gas storage leases.


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