Canadian Oil

[sumisu]

Bulldog Resources Announces Second Quarter Results, Successful Fertile Pool Reduced Well Spacing Pilot Project and Increasing 2007 Capital Budget

Thursday August 9, 7:09 pm ET

CALGARY, ALBERTA--(CCNMatthews - Aug. 9, 2007) - BULLDOG RESOURCES INC. (TSX:BD - News)
Bulldog Resources Announces Second Quarter Results, Successful Fertile Pool Reduced Well Spacing Pilot Project and Increasing 2007 Capital Budget

HIGHLIGHTS

- Increasing 2007 capital expenditure budget by $3 million to $30 million

- Expanded drilling program in Q3/Q4 to include 26 gross (13.75 net) wells

- Fertile Pool - successful reduced well spacing infill drilling pilot project

- Current production as of early July in excess of 1,800 BOE/day

- Achieved "top decile" field net backs of $53.54 per BOE and cash flow of $49.76 per BOE in the second quarter

- Efficient Q2 operations delivered production expenses of $3.95 per BOE

- Drilled 10 gross (6.02) wells resulting in six oil wells (3.27 net), one vertical well awaiting completion (1.00 net), one vertical stratigraphic test well (0.50 net) and two D&A wells (1.25 net) in the second quarter

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http://biz.yahoo.com/ccn/070809/200708090406845001.html?.v=1