West Hawk and Bronco Team Up in Four-Well Piceance Deal
West Hawk Development Corp., via its wholly owned entity West Hawk Energy (USA) LLC, has entered into a significant four-well drilling contract with Bronco Drilling to drill four wells on the Figure Four Ranch Property, located in the Piceance Basin, Rio Blanco County, Colorado.
Permits for four additional wells are filed and will be issued by mid to late December.
The Bronco #27 Drill Rig will arrive on site the first part of December and commence drilling operations. The gathering system pipeline is being installed to the first well pad. The initial road construction has been completed, permitting access to the well pad and the well pad construction has started.
The anticipated operational time line is as follows:
--Pipeline installation completed by the first part of December. --Well pad construction completed by the first part of December. --Road improvements finished by the end of year. --Drill rig delivered to site and drilling started by the first part of December. --First well drilled, completed, and producing 60 to 75 days thereafter.
The company's 5,200 acre Figure Four Ranch property, as per the NI 51-101 Resource Evaluation Report prepared by Gustavson Associates, contains a 530 billion cubic feet P50 natural gas resource. The NI 51-101 Resource Report is found on the company's website at http://www.westhawkdevelopment.com/doc/report/pdf/51-101.pdf.
"Natural gas production from our first well will mark a major milestone
that will transition West Hawk into an operating company," said Dr. Wm. Mark
Hart, president and CEO of West Hawk Development Corp. "John A. Reeves, Jr.,
CEO of West Hawk Energy (USA) LLC, has done an excellent job developing the
Figure Four Ranch project for the company. Meanwhile, we continue working
diligently to bring West Hawk's other energy-coal-gasification-based assets -
Tulita area coal deposit in the Northwest Territories, the Groundhog deposit
in northern British Columbia, and Ellesmere Island in Nunavut Territory - into
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Company: West Hawk Development Corp. more info
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Company: Gustavson Associates more info
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