Fairborne Logs Pay with Wild River Well

Fairborne Energy Ltd. provides the following update regarding the status of its completion operations at Wild River 8-14-057-23W5M in Alberta, Canada. This well spudded on December 7, 2003 targeting the Nisku Formation and reached total depth of 12,467 feet (3,800 meters) on February 2, 2004.

The well has 157 feet (47.9 meters) of gross pay and 113 feet (34.4 meters) of net pay in the Nisku Formation with 77 feet (23.5 meters) open to perforations. The well was flow-tested at various rates up to a maximum of 14.2 MMcf/d and at this maximum rate the flowing wellhead pressure was 3,700 psi. Based on surface data from the four-day flow test, the extrapolated Absolute Open Flow (AOF) rate at the perforations is 200 MMcf/d. The Company and its partners are currently reviewing pipeline and tie in options, with facility and pipeline construction planned for the third quarter of 2004.

Working interest partners in the well include Fairborne (50%), ELM Energy Management Ltd. (30%) and Hawker Resources Inc. (20%).