Westside Energy Reports 2.5 MMCFE/D Test Rate From North Program Area Vertical Well
05 Giugno 2007 - 3:30PM
PR Newswire (US)
DALLAS, June 5 /PRNewswire-FirstCall/ -- Westside Energy
Corporation (AMEX:WHT), an oil and gas company with operations
focused on the exploration and development of natural gas in the
Barnett Shale play, today reported that the Smith #2 vertical well
(WHT 61.5% WI), in Cooke County (North Program area), was
successfully completed and tested at a gross initial rate of 350
BO/D and 360 MCF/D (2.5 MMCFE/D) on a 22/64 inch choke. The well
continues to unload completion fluid. Westside anticipates that the
choke will be opened further after the initial surge of fluid is
recovered. As reported previously, gas production in this area
averages over 1,200 BTU/CF. The Company's third well in Hill
County, the Primula #2H (WHT 50% WI), is currently in the drilling
phase. The Primula #2H is the first of the eight-well drilling
program budgeted for the remainder of 2007 in Hill County.
Westside's 2007 development activities continue to be primarily
focused on continuing development activities of joint exploration
agreement acreage in Hill County. Management Comment Douglas G.
Manner, Westside's Chief Executive Officer stated, "The Smith #2
represents another data point supporting our strategy of drilling
near the Muenster Arch in the eastern portion of our acreage
position in the North Program area. There are a number of
additional locations to be drilled. Our current plans are to
continue to observe the performance of the North Program wells
while we focus our efforts on Hill and Ellis counties for the
remainder of 2007. In the meantime, we will be formulating a
drilling program to continue development of our North Program area
acreage in 2008." About Westside Energy Corporation Dallas-based
Westside Energy is an oil and gas company focused on exploiting its
significant acreage position in the prolific Barnett Shale trend in
North Texas. For more information about Westside Energy, please
visit the Company's website: http://www.westsideenergy.com/.
Forward-Looking Statements Certain statements in this news release
regarding future expectations, plans for acquisitions and
dispositions, oil and gas reserves, exploration, development,
production and pricing may be regarded as "forward-looking
statements" within the meaning of the Securities Litigation Reform
Act. They are subject to various risks, such as operating hazards,
drilling risks, the inherent uncertainties in interpreting
engineering data relating to underground accumulations of oil and
gas, as well as other risks discussed in detail in the Company's
periodic reports and other documents filed with the SEC. Actual
results may vary materially. DATASOURCE: Westside Energy
Corporation CONTACT: Sean J. Austin, Vice President and CFO of
Westside Energy Corporation, +1-214-522-8990, ext. 1117 Web site:
http://www.westsideenergy.com/
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