Bowood to Resume Production at Armada Well
Bowood announced that the Energy Resources Conservation Board ("ERCB") has approved Bowood's application for Good Production Practice ("GPP") for a previously announced oil well at Armada (2-01-17-19w4). The well was shut in on April 19, 2011 after reaching the end of its new oil well production period ("NOWPP") in which ERCB regulations allowed it to produce approximately 15,000 bbls of oil from January 2011 through April 2011. With the GPP approval now in place, the well is able to resume production without regulatory restriction. Prior to being shut in, the well was flowing at a rate of 170 bbls of oil per day (60 bopd net). The Company's working interest in the well is 35%.