PRVB news up 16%
Powder River Completes Drilling of First Well on Biamante Project
Friday August 24, 7:00 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Aug 24, 2007 -- Powder River Basin Gas Corp. (OTC BB:PRVB.OB - News), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced it has completed drilling on the Biamante #1 well in the Powder River Consolidated Field in Goliad County, Texas. The well was drilled to 4000 feet and showed ten pay zones. The first zone will be completed at 3630 feet and is currently being set with casing and cementing operations.
The well will be completed and tested by the month's end. Based on initial research, it is estimated to produce a minimum 250 mcf gas per day. Accurate results will be published as soon as the Company has them available. The tank battery and meters are expected to be set within the next several weeks, with the well put into full production by the end of September.
This well marks the first of a 25 well program scheduled on the Biamante project.
In other news, Powder River CEO Brian Fox recently participated in an interview on the Bill Chippas radio show, which can be heard on Bill Chippas website at www.billchippasshow.com.
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"We are pleased to have prepared the location and drilled our first well on the Biamante project. We are also currently in full completions operations on the Weesatche project. We are bringing the remainder of the project to full production which - despite massive rain delays - is now anticipated to be in full operation in mid-September. These developments represent an exciting start to our fourth quarter, as we can finally realize a return from our drilling program of the past year," stated Powder River Basin Gas Corp. CEO Brian Fox.
Powder River Basin Gas Corp. is active in production, acquisition, and marketing of crude oil and natural gas properties.
Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.
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