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Bowood Announces Spud of Alberta Bakken Well at 15-25-3-23 W4
FOR IMMEDIATE RELEASE TSX VENTURE EXCHANGE: BWD
March 24, 2011 – Calgary, Alberta – Bowood Energy Inc. (“Bowood” or the “Company”) is pleased to announce that its first joint well operated by Legacy Oil + Gas, in the southern Alberta Bakken fairway spudded on March 22nd, 2011 and is currently drilling ahead. The proposed Spring Coulee 15-25 horizontal well is being drilled from a surface location in 3-1-4-23 W4 with the horizontal portion of the well expected to terminate in 15-25-3-23 W4. The well‘s primary targets are the Big Valley, Exshaw and Banff Formations, which collectively form the Bakken petroleum system in the southern Alberta Basin.
The 15-25-3-23 W4 well targets an area where there is not only potential in the Bakken Petroleum system but also in a number of other zones prospective for oil.
The Spring Coulee 15-25 well is the 28th well licensed by industry in the fairway on the Canadian side of the border since the play emerged in 2010.
With operations based in Calgary, Alberta, Bowood Energy Inc. is a TSX-V listed company engaged in the acquisition, exploration, development, and production of oil and gas resources in Alberta. Bowood is recognized as a TSX Venture 50® company in 2011. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.
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