Patch Places McLeod Well in Alberta on Production

Patch International reports that the operator has informed PTII that the McLeod well (2-20) in the Edson area of Alberta, Canada is now in full production. During the flow testing, this first McLeod well flowed at a rate of approximately 250-300 barrels of oil (38 degrees API) per day based on a 24-hour production test. The testing showed outstanding oil recovery results with the last swab recoveries being 99% oil and 1% water.

As previously announced Patch has earned in to participate in a second drill program on an adjacent property to their producing W5M McLeod oil well as a result of participation in the first McLeod well. The operator plans to spud the new well (10-20) at the McLeod project to test the Middle Ellerslie and Basal Belly River zones encountered in the McLeod 2-20 well before December 11, 2005. The operator is very optimistic that the 10-20 well is anticipated to encounter the optimum Middle Ellerslie beach reservoir and that it could also extend the Basal Belly River channel reservoir from the 2-20 well.