I hope there are good things to come from this
NEWS RELEASE
Morgan Creek Energy Hires OPS Group Ltd. as Contract Operator To Drill
Oil / Gas Test Program on Frio Draw Prospect, New Mexico
Dallas, Texas / PR Newswire – June 12, 2008 –Morgan Creek Energy Corp., (the
“Company”) (SYMBOL MCKE-OTCBB, M6C1-Frankfrurt) has signed an Operating
Contract with OPS Group Limited of Houston, Texas to act as its Operator in the Frio
Draw field leases acquired by Morgan Creek in Curry County, New Mexico over the last
two months. Morgan Creek holds a 100% working interest in approximately 14
contiguous sections in T2&3N, R34E.
The Company has initiated plans through OPS to drill a vertical test into the San
Andres carbonate section, and to acquire the necessary tubulars required to drill and
complete the proposed test. The Company expects to be ready to stake and construct
the project’s initial drill site within the next two weeks, so that the test can be spudded
during the next available drilling window.
The San Andres, a carbonate sequence in the Frio Draw area, is of Permian Age and
has been one of the most prolific oil producing horizons in North America. There are
three major porosity cycles developed within the San Andres series. Each cycle
represents a separate transgressive event, and each event is characterized by a lower
shale sequence overlain by carbonates that grade into evaporates, typically oil. These
cycles represent the three primary targets for oil and gas bearing horizons.
Morgan Creek’s Frio Draw area focuses on the middle of the three targets. Detailed log
analyses on over 100 wells penetrating this cycle have delineated areas where there is a
noted increase in porosity and permeability. Within this trend, the majority of analyzed
wells demonstrated oil and gas shows. No commercial production has ever been
attempted.
Morgan Creek’s depositional - diagenetic modeling, based on Shell Oil’s stratigraphic
testing of this porosity cycle in the mid 1960’s, has defined several prospective
productive areas.
About OPS Group Limited
OPS Group Limited, formed in 2005, provides a cost-effective means of outsourcing
engineering, regulatory and accounting services as an operating package. The company
provides its contract clients with knowledgeable and skilled professionals to perform the
critical task of well operations on a short or long term basis. OPS provides these
services through a contractual arrangement with New Tech Engineering, LP, founded in
1998. New Tech is one of the largest domestic engineering-consulting firms in the
energy industry with regional offices in ten cities and with more than 400 well site,
engineering, and project management consultants working domestically and around the
world.
About Morgan Creek Energy Corp.:
Morgan Creek Energy Corp. is a natural resource exploration company engaged in the
acquisition and development of strategic oil and natural gas properties. For further
information see: www.morgancreekenergy.com
Symbol: OTCBB – MCKE; Frankfurt/Berlin Symbol – M6C1, WKN No.: A0QYTM; ISIN:
61732R 206
Contact North America: Investor Relations
Tel.: 866-590-6589
Contact Europe: Investor Relations
Tel.: 49-69-7593-8467
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