Source Drills Successful Gas Well in Alberta

Source Petroleum Inc.

Source Petroleum Inc. reported that it has drilled a successful deep gas well to a total depth of 3000 meters along with its joint venture partner and operator Dual Exploration Inc. in Woking, Alberta.

Two separate zones have been identified for production testing at approximately 1900 meters and 2200 meters respectively.

The well has been logged and Production casing has been set with the service rig arriving this week to complete the subject well in two zones. The program will include perforation / acid stimulation and flow testing in the lower zone and perforation and flow testing in the uphole zone.

Source is very pleased to have achieved early success on this project and expects to provide further updates and production test results as they become due over the upcoming weeks.

Woking is a High Impact gas play property Approximately 17 miles east of the Saddle Hills discovery (over 41 bcf of gas from 4 wells since 2002) Source Petroleum holds 37.5% interest and Dual Exploration Inc. retains the remaining 62.5%. The property is anticipated to potentially hold up to 40 -- 50 bcf of potential gas reserves from multi zones and Close to existing infrastructure.