Odyssey Reports Drilling Update & Revenue Milestone
April 16 2008 - 11:29AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (FRANKFURT: YQN) reports today that
March 2008 oil sales grossed over US$1,000,000 - a milestone for
the Company.
Drilling is progressing on our new well in Pelahatchie field.
The well has reached total depth of 10,700 feet this morning, with
targeted depth at 11,500 feet. The J. Cox 18-10 #1 well was spudded
10 days ago. Surface casing was set at 3800 feet, and drilling with
7 7/8's bit has continued to this depth. If progress continues as
anticipated, the well should reach total depth within the next few
days and will be logged for evaluation.
Odyssey further reports that the Karges 18-7 #1 well has had
production tubing delivered to the restored location this morning,
and has a completion rig scheduled to commence completion of the
well by Monday, April 21, while the recently drilled Max Gill well
has had a pumping unit installed, production equipment installed
and will begin production this week.
The additional production from the new wells in Pelahatchie is
expected to significantly increase production and revenues, with
some of the oil sales now yielding over $100 per barrel.
The Company will continue to update shareholders on progress
next week.
About Odyssey Petroleum Corp.
Odyssey Petroleum Corp. is a Canadian based junior oil and gas
company traded publicly under the symbol ODE on the TSX-V Exchange.
The Company's mission is the discovery and development of economic
oil and gas through the exploration of high quality projects
located primarily in the Southeastern United States. Odyssey
Petroleum Corp.'s website is www.odysseypetroleum.com. For investor
information, call (604) 718-2800 or fax (604) 718-2808.
Forward-Looking Statements:
Statements in this release that are forward-looking statements
are subject to various risks and uncertainties concerning the
specific factors identified in ODE's periodic filings with Canadian
and European Securities Regulators. Such forward-looking
information represents management's best judgment based on
information currently available. No forward-looking statement can
be guaranteed and actual future results may vary materially. ODE
does not assume the obligation to update any forward-looking
statement.
ON BEHALF OF THE BOARD
Whitney Pansano, C.O.O. and President
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Odyssey Petroleum Corp. Whitney Pansano C.O.O. and
President (604) 718-2800 (604) 718-2808 (FAX) Email:
pubco@odysseyexplorations.com Website: www.odysseypetroleum.com
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