Portrush Drills New Well at Mission River

Portrush Petroleum has begun drilling operations at its Scanio/Shelton Well No. 9 in Mission River, Texas. This well commenced drilling at midnight Wednesday, January 26th. and has already encountered a number of prospective oil and gas horizons similar to the other five wells all of which are on production. At 7:00 AM this morning the well was drilling ahead at 5,700 feet and the drilling contractor is anticipating two more days of drilling before reaching total depth. The logistics of drilling a deep test on the property are still being worked on.

In addition to the paysands above 6,500 feet the operator is interested in the horizons from 8,000 to 8,500 feet because of previous production from 3 wells in the southwestern part of the lease. In 1937 the Sunray well produced one BCF of gas and flowed at an initial rate of 12 million cubic feet of gas per day from a single paysand at approximately 8,300 feet. A deep test will be designed to encounter these same sands.

Cranberry/Botha, Alberta

The company is awaiting an official confirmation from the operator regarding a re-entry or drilling a new location in the company's Alberta project. We anticipate the operator will decide on drilling a new location in preference to a re-entry. A drilling timetable is being finalized.