Park Place Mobilizes Under-Balance Drillers in Tennessee

Park Place Energy Corp. announced that the operator of the Morgan Highpoint # 4 Test Well, Montello Resources Ltd. has had Strata Energy Services Inc. based out of Red Deer, Alberta, Canada and Weatherford Services personnel from Casper, Wyoming, who specialize in nitrogen drilling packages, mobilize and set up their under-balanced drilling equipment on the Morgan Highpoint # 4 Test Well. Upon reaching total depth on the Morgan Highpoint # 4 Test Well, the drilling rig and Strata's under-balanced equipment will be moved onto the Morgan Highpoint # 3 Test Well which will then be drilled under-balanced to total depth.

By drilling the wells under-balanced, damage to the fractured reservoirs, which are renowned for producing high volumes of both gas and oil, can be minimized. In addition, by drilling the wells under-balanced the Test Wells can effectively be tested and produced at the same time that they are being drilled, thereby providing significant information as to how best to complete and equip them.

Strata's management and engineering team has been involved in the drilling of over 500 wells under-balanced. Strata has a strong background in all aspects of managed pressure and under-balanced drilling operations.

The John Bowen # 2 Test Well will be logged and evaluated utilizing the same crew that will be logging the Morgan Highpoint # 3 & # 4 Test Wells. With having already encountered hydrocarbons in the Morgan Highpoint # 3 Test Well, Park Place is excited about getting all three test wells drilled, logged and evaluated.