Update on Operations and Fall Drilling and Completion Activity
CALGARY, Nov. 22, 2006 (Canada NewsWire via COMTEX News Network) --
Rolling Thunder Exploration Ltd. ("Rolling Thunder" or the "Company") (TSX-V: ROL.A, ROL.B; OTO: RTHXF) has significantly increased production for the months of September and October 2006. Average sales production for the month of September was 1,142 Boe/d and October sales are forecasted to be 1,283 Boe/d. The Company is forecasting average production for the fourth quarter of between 1,000 and 1,200 Boe/d. Current field capacity is about 1,500 Boe/d, however between 400 and 500 Boe/d of productive capacity is shut in due to MRL restrictions at Teepee Creek. The Company currently has an application for Good Production Practice ("GPP") at the EUB to lift the restrictions.
Rolling Thunder has drilled and cased three additional wells this fall. At McLeod, the Company\'s 6-8 (70% WI) well encountered 4.5 meters of net pay in the Gething. On clean-up after fracturing, the 6-8 well flowed over a 36 hour period with a final gas rate of 4.3 MMcf/d at a flowing tubing pressure of 950 psi. At Teepee Creek, the Company has cased its two new step out wells. The first, 8-16-74-4W6M (60% WI) confirms a North West extension of the Company\'s Doig oil trend. The well is currently being flow tested and results will be available when completion activity has been finished. The 14-35-73-4W6M (100% WI) well has also been cased. Down-hole logs indicate an extension of the Doig trend to the South East. Completion of this well will start immediately following the 8-16 test. Both wells will be tied-in to the Company\'s Teepee Creek Facility.
Rolling Thunder has negotiated an increase to its credit facilities to $16,000,000 consisting of a $13,000,000 operating line and $3,000,000 acquisition and development loan. The Company\'s third quarter results will be released at the end of November 2006.
AI
