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Play_Chips

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Alias Born 09/20/2007

Play_Chips

Re: None

Monday, 11/03/2008 9:08:12 AM

Monday, November 03, 2008 9:08:12 AM

Post# of 89
NATURAL GAS PROPERTIES

Piceance II

PetroHunter is drilling its 14th operated well in the Piceance II project area
near Parachute, Colorado. Each of the 14 wells has encountered gas shows of
greater than 200 feet of net pay, with 12 of the wells containing more than 400
feet of net pay, all in sandstones within the Williams Fork Formation.

The company is in the process of negotiating natural gas marketing agreements
with an established mid-stream provider with firm transport on the Rockies
Express pipeline (REX). The company plans to complete all 14 of its existing
wells, and plans to drill and complete two additional permitted wells to coincide
with the construction of a gathering system during the third and fourth calendar
quarters of 2007.

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