PetroWorth: New Brunswick Drilling Program to Include Shale Gas Test

PetroWorth Resources Inc. announced that its upcoming four-well drilling program will now include a test of the deeper shale gas opportunities on the company's licensed properties in New Brunswick.

PetroWorth initially planned to contract a smaller drilling rig to drill the four wells to a maximum depth of 1500 meters, which would test only the Hirambrook sands. However, in light of the recent shale gas developments in the Quebec lowlands, in the Appalachian region and New Brunswick, the company decided to commission the Precision Drilling 176 rig, a double rig capable of drilling to 2,500 meters. The four-well program is scheduled to commence in June. Two of the drilling sites have already been permitted, with the remaining two sites in the process of being permitted.

PetroWorth also announced that it has commissioned BJ Services Company Canada (BJ), based in Calgary, to conduct a frac stimulation of at least four zones in the West Stoney Creek E-08 (Feenan #2) discovery well in New Brunswick. BJ has extensive experience and a tremendous track record of success in fraccing wells onshore eastern Canada, especially in New Brunswick. The E-08 well was drilled in November 2007 to a total depth of 1605 meters and tested only the Hirambrook sands. While drilling on air, gas was flared at surface at a rate of approximately 650,000 cubic feet per day. An independent petrophysical analysis of the well calculated a combined potential gas pay thickness of 40 meters within five sand zones with an average porosity of 10.1%. Recent perforation and testing of two of the sands zones yielded encouraging results, confirming that the well is an excellent candidate for the frac stimulation, which is scheduled to commence around the end of May.

"The summer will be an exciting time for our company, with numerous activities on a variety of fronts," said Neal Mednick, president of PetroWorth. "We are optimistic about the prospects for a successful frac at E-08 and we expect to expand on this discovery with the drilling of additional wells."