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chiliandrillman
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Unbridled to drill stratigraphic test in N.Y.


2009-03-25 05:32 ET - News Release

Mr. Joseph Frantz reports

UNBRIDLED ENERGY AND NYSERDA TO DRILL STRATIGRAPHIC TEST

Unbridled Energy Corp. is scheduled to drill a stratigraphic test to basement (7,700 feet) on its New York acreage. The spud date is scheduled for the first week of April using UDI rig 5. The well is being drilled in conjunction with the New York State Energy Research and Development Authority's (NYSERDA) efforts to test the potential of the deep horizons in western New York.

The location for the well is over a deep structure that was identified using 2-D seismic. Unbridled will core various deep formations and run a substantial suite of logs to evaluate porosity and permeability. Management believes there are several potential gas-bearing formations that might be encountered such as the Utica shale, Trenton/Black river, Theresa sandstone and the Potsdam sandstone. Nyserda is paying for all costs below the Medina formation (4,000 feet) and, should hydrocarbons be encountered, all rights to the hydrocarbons would inure to Unbridled.

We seek Safe Harbor.

--------------------
A proper due diligence will lead you into prosperity

Posts: 52 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
chiliandrillman
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Unbridled's 16-21 tests at 2.3 mmcfpd over three days


2009-03-30 05:44 ET - News Release

Mr. Joseph Frantz reports

SHALE GAS NEWS - UNBRIDLED SUCCEEDS WITH ACID FRAC AT CANADIAN CHAMBERS PLAY

Unbridled Energy Corp. has recently performed a large acid stimulation in the Elkton formation in its 16-21 well in the Chambers play, northwest of Calgary, Alta., Canada.

This effective acid treatment was designed jointly by management and Schlumberger. The stimulation was pumped successfully and the well flow tested at a peak rate of 4.8 million cubic feet per day at 1,800 pounds per square inch, to a final flow rate of 2.3 million cubic feet per day at 1,300 pounds per square inch after three days. The well is shut in for a mandatory pressure buildup test, after which time, an analysis will be performed by an independent consulting company to book reserves. This formation is believed to exist over a large portion of the company's acreage, and based on continued success, could give rise to over 30 new drilling locations.

Importantly, Unbridled, the operator, paid 100 per cent of the stimulation expenses in the 16-21 well and expects to yield, net of royalties, 100 per cent of the cash flow of this well, for the medium term, due to one non-performing partner and two partners electing non-participation, by way of a 500-per-cent penalty. A pipeline must be run from the well to the Conoco Phillips sales line before gas sales can begin.

The second test, planned for the Chambers area, involves the 400-foot-thick Second White Specs (2WS) shale formation, at approximately 9,000 feet deep. Based on other 2WS wells producing from the formation in Alberta, a recent comprehensive third party study, including recent and historical test data in the Chambers area, management views this formation as highly prospective. This large shale formation is also expected to be within the gas window. Unbridled Energy, the operator, plans to test the shale in an existing well, using a large slick-water stimulation treatment, within the second or third quarters of 2009. Supported by third party data, management estimates, net to the company's interest, a discovered resource of over 1.6 trillion cubic feet of gas to exploit. A successful test in this existing vertical well will then support a more comprehensive horizontal drilling program.

Management has also identified another horizontal drilling candidate in its Chambers play, the Rock Creek formation. This formation contains a net 40 billion cubic feet of discovered resource, based on management estimates. During the past year, several operators, to the north of Unbridled's Chambers play, have been drilling economic horizontal wells into this formation. These successful producing wells show similar characteristics to the Rock Creek formation, under Unbridled's acreage.

Management comments

Joseph Frantz, president and chief executive officer of Unbridled Energy, said: "We appreciate working closely with Schlumberger on this acid frac design recently applied at our Chambers play. The joint effort enabled a controlled-rate acid fracturing treatment to be specifically designed and pumped to maximize fractures within the zone. We are pleased with the results to date."

We seek Safe Harbor.

--------------------
A proper due diligence will lead you into prosperity

Posts: 52 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
   

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