Morgan Creek's Boggs #1 Well Moves to Final Completion

Morgan Creek Energy has moved the completion drill rig on its Boggs #1 natural gas test well in McLennan County, in Central Texas, and progressed to the final stages of production testing. These procedures are being carried out in anticipation of well completion, production gas flows and tie-in.

Company Geologist, Thomas Markham is working with Schlumberger Inc.'s gas field technical team to develop a best strategy for the unique gas shows. Mr. Markham reports that calculated from Schlumberger's open hole logs, and with the recommendation of their technical staff, the Boggs #1 has gas pay sands from the 3,882 to 2,800 foot level for a total of 37 feet of probable production.

As planned, Schlumberger will perforate the lowermost zone from 3,882 to 3,896 feet for production testing, which will allow Morgan Creek Energy to determine daily gas production volumes and total reserves. The expected completion time for this effort is about two weeks.

Following the test on the lowermost zone, it is planned to production test each additional zone, successively from the bottom to the top of each gas pay zone in the Boggs #1 well. This final-stage procedural production testing will be used to maximize production and determine which zone(s) will be the first to be produced into the nearby Atmos gas pipeline.

It is believed that the Boggs #1 well represents the first significant Ouachita-trend gas production in the McLennan County area and the Central Texas region. This view is supported by Schlumbergers' findings and the geological and land team of Morgan Creek Energy, which has a first-in position in the development.

About Morgan Creek Energy Corp.: Morgan Creek Energy Corp. is a natural resource exploration company engaged in the acquisition and development of strategic oil and natural gas properties.