Stealth---another hi impact play in good market area---they've been doing some very intriguing horizontals in coal---
Cex--holds 1/4 of this play, main focus is stony creek--one of oldest fields in canada--got big position there---hi infrastructure/market area--ran big time with frankfurt listing---thrifty management, pres is oilpatch engineer--works for a living, building co---
slv nr
Stealth Ventures Ltd. - Drilling of Third Horizontal CBM Well Underway at Cumberland, Nova Scotia, Second Well Being Completed
Thursday September 28, 7:28 pm ET
CALGARY, Sept. 28 /CNW/ -
Cumberland Basin - Stealth Ventures Ltd. ("Stealth") is pleased to announce that it has successfully drilled a 738 metre horizontal lateral in the Number 2 coal seam at its Coalmine Brook No.12 drill site at Springhill, Nova Scotia. The service rig is currently on location doing preliminary completion work in anticipation of production testing over the next several months.
The drilling rig has been moved to the Coalmine Brook No.13 location on the same drill pad and is currently drilling a horizontal lateral in the Marker 'O' coal seam. This multi-well drill pad was designed for up to twelve wells, targeting four different coal seams, drilled at three different azimuths, with wellheads spaced on thirty metre centers.
The Coalmine Brook No.3 well, which was equipped for production in June of this year, will be undergoing a cleanout operation focused on removing coal fines from the slotted liner. A Nitrogen coil tubing unit will be utilized in this operation when it has been released by the operator who mobilized the equipment from Western Canada. This equipment will remain at Stealth's Coalmine Brook operations until all three wells are substantially into the production testing phase. The Coalmine Brook No.3 has a 430 meter horizontal lateral in the Number 6 coal seam.
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Well Name Coal Seam Horizontal Lateral
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Coalmine Brook No.3 Number 6 430 Metres
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Coalmine Brook No.12 Number 2 738 Metres
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Coalmine Brook No.13 Marker "O" Drilling
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Stellarton Basin - Stealth has completed a two well, 1500 metre coring program at the Priestville site. A complete program of desorption testing, geochemical and geophysical analysis is being conducted on both cores and expected final results are to be assembled late in 2006 or early in 2007. Drilling is expected to re-commence in the area during first quarter of 2007.
The Cumberland basin, with a 75% working interest, and the Stellarton basin, with a 100% working interest, represent a gas resource play in Nova Scotia for Stealth estimated by Sproule Associates to contain net 1.313 TCF of "Discovered CBM Resource". Stealth's drilling program is designed to test the productivity and commerciality of this resource. Stealth is a Calgary-based junior oil and gas company whose expertise and focus is on "unconventional" gas reserves including CBM, shale gas and tight gas sand reservoirs.
STEALTH VENTURES LTD.
"W. Robert Bell"
Per:
W. ROBERT BELL
President
AI
