Fairchild Completes Ten Wells at Kerrobert Prospect

Fairchild International reports that the operator has now drilled all ten oil wells of the ten oil well test drilling program at the Kerrobert properties, in the Canadian province of Saskatchewan. Eight of the wells have now been cased with the last two wells to be cased today.

The operator has informed Fairchild that completion operations will begin immediately and continue up until Christmas Eve and resume on Boxing Day. It is now anticipated that all ten oil wells will be completed and producing by early January to take advantage of the current oil prices.

Previous drilling in the area, referred to geologically as the Viking Formation, has resulted in some 500 discoveries. It is located on the Saskatchewan-Alberta border and is considered to be a highly productive, low-risk, high-reward area. The oil is comparable to West Texas No 1. The experience by other oil companies in the area suggests an approximate fifteen year life for the shallow oil wells with minimal operating and drilling costs. Fairchild International Corporation management says its participation in the oil production from the Kerrobert properties in Saskatchewan, Canada combined with the gas production from the four gas wells at East Corning in Tehama County, California, which is now 4 MMCFPD (million cubic feet per day), helps lay the foundation for the company to continue to build a producing energy enterprise and increase shareholder value.