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NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE

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J Man   Thursday, 09/22/11 05:33:24 PM
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NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE

On 9/22/11, Entek provided the following update on the Niobrara Shale Oil Project Appraisal Program in the Green River Basin.

[b]Battle Mountain 14-10L As predicted, in addition to potentially productive zones above and below, the well encountered three benches in the Niobrara shale. The highly prospective upper and middle benches, from which oil is produced in the greater area, and the previously untested lower bench. For operational reasons the decision was made on this first well to test all zones of interest from the bottom up. A fracture stimulation operation was successfully completed on the
Frontier Formation with the first treatment. The fracture stimulation on the lower Niobrara bench carried out since the last update has only been partially successful and results will now be analysed by Halliburton and independent experts. The next fracture stimulation on this well, scheduled for mid-late October, will target one of the remaining Niobrara benches. Depending on post-frac analysis results, the lower bench may also be re-stimulated before producing the well with production from all zones co-mingled.

Slater Dome (SD) Federal 24-9DLST – The well reached its total depth of 8,105 ft after penetrating the Niobrara and Frontier target zones. Wire-line logs have been successfully run and the well is currently running casing. Preliminary interpretation of the well log data is encouraging
and will now be reviewed to design a fracture stimulation program for all prospective intervals. The next scheduled timing for the frac operation is expected around mid-late October. The DHS
18 rig will be released upon completion of casing and cementing the well.

C&C Cattle 18-8 – [/i]The well reached its total depth of 6,700 ft after penetrating the Niobrara and Frontier target zones. The total depth is shallower than planned due to the target formations coming in higher than expected. Wire-line logs have been successfully run and casing set. The casing is currently being cemented. As with the 24-9 well, the encouraging data from the well will be reviewed and a fracture stimulation program will be designed for all prospective intervals. The
next scheduled timing for the frac operation is expected around mid-late October. The DHS 19 rig will be released upon completion of casing and cementing the well.

Please Note – This release will be the last weekly appraisal program update. In future, updates will be provided as and when results determine.


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