Nextraction Spuds First Well in Pinedale, WY

Nextraction Energy has spudded the Noble #6-24 well in the Pinedale Anticline region of Wyoming on Sunday, January 24. This marks the first well drilled by the Company together with its operating partner, Vantage Energy Green River, LLC.

The Noble #6-24 well was commenced from a surface location in the southeast northwest of Sec 6. The operating team will set surface casing after reaching 2,644 feet (805.89 meters). The well will deviate 3,202 feet (975.96 meters) to a bottom hole location in the southeast northeast quarter of Sec 6, T33N, R109W to a total measured depth of 14,997 feet (4571 meters), with a true vertical depth of 14,196 feet (4326.9 meters).

Nextraction currently holds 2,551 acres in the northern crest of the Pinedale Anticline in the well known, prolific gas producing Green River Basin region of Wyoming. Nextraction has the potential to drill up to 60 well locations on 20 acre spacing on the existing leasehold at its Pinedale property. The Noble #6-24 well is approximately 800 meters (one-half mile) north of the Shell Oil Company #16A-6D Stewart Point well that was completed in late 2009. Initial production rates for the #16A-6D has yet to be released to the public. Recent activity in the area during late 2009 has included drilling and completion by Shell of several wells on the adjoining land position to the south of the Nextraction–Vantage acreage.