Sharon Energy (fka sheyf)

[Bobwins]

Still hitting 100% in Texas. Smaller well but should help offset production declines. Probably 30boepd net to Shy.v.

News on Cheney is way overdue. Let's hope it was worth the wait. Warco Shilling will be good because Sharon will be the operator and calling the shots. Hopefully the initial well hits and Sharon can drill development wells nearby.

Bobwins

Tuesday October 2, 1:02 pm ET


CALGARY, ALBERTA--(MARKET WIRE)--Oct 2, 2007 -- Sharon (CDNX:SHY.V - News) today reported that the Black Owl, Halamicek #1 well located in Wharton County, Texas has been successfully completed in the Yegua formation. The well flowed at a rate of 1.3 MMcf/d of natural gas and 10 bbls/d of condensate, at 5600 psi, through a 7/64 choke.
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Sharon is the operator of the well, in which it has a 24.4% working interest. Sharon anticipates the well will be producing to sales by the end of the month.

Sharon also confirmed that the operator of the Cheney/Hancock #1 well, Colorado County, Texas, plans to fracture stimulated the well within a week. Sharon has a 14% working interest in the well.

Sharon also plans to commence the drilling of the initial well on the West Wharco-Schilling prospect, by the end of November, 2007. Sharon owns a 30.3% working interest in the prospect and is the operator.

Sharon is an oil and gas exploration and production company with offices in Houston, Texas and in Calgary, Alberta. Sharon's focus is on its operations on the development of its Wilcox properties and the expansion of the Company into new opportunities within Texas.