Press Release Source: West Hawk Development Corp.
West Hawk Expects Gas Production to Exceed Best Estimates
Monday March 5, 3:05 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Mar 5, 2007 -- West Hawk Development Corp. (the "Company") (CDNX:WHD.V - News)(Frankfurt:H5N.F - News) is pleased to provide the following update on the results of the geophysical logging of the Company's first well drilled in the Piceance Basin:
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A complete suite of open hole geophysical logs for the first well have been processed and analyzed. This well's net recoverable prospective resources (gas) from the Mesaverde, Cameo, Rollins, Cozzette, Corcoran, and Castlegate zones is 5.1 BCF, exceeding prior estimates by a factor of three. Gustavson Associates' Figure Four Property 51-101 report previously determined that the single well P90 recoverable prospective resources were 1.7 BCF. Gustavson Associates has reviewed the foregoing results and has determined that the foresaid prospective resource determinations are reasonable.
A work-over rig is on site and well completion is underway. Gas production will commence after formations are hydraulically fracture stimulated, flowed back, and connected to the installed gathering system for immediate product delivery to market.
The Bronco #27 rig has begun drilling on the second well completing to date a depth of approximately 2,000 feet with the surface casing currently being installed.
Weir International, possibly the world's best recognized coal mining and engineering consulting firm, has been commissioned to write the 43-101 reports for West Hawk Development Corp.'s Tulita (Northwest Territories), Ellesmere Island (Nunavut), and Groundhog coal properties. After an initial submission of the Northwest Territories report to the British Columbia Securities Commission (BCSC), the report as per BCSC's comments is being finalized. The Nunavut and Groundhog reports are currently being written and will be submitted.
Dr. Wm Mark Hart has said, "The test results on the first well are very exciting for West Hawk's shareholders and management alike, reaffirming the company's vision to develop gas albeit from either deep wells or coal gasification."
On behalf of the Board of Directors,
Dr. Wm. Mark Hart, President & CEO, Co-Chairman
Chris Verrico, Co-Chairman
