Petrichor Energy Reports that Hinson #1 Well has been Completed and Flow Testing has Commenced
February 04 2014 - 10:23AM
Marketwired
Petrichor Energy Reports that Hinson #1 Well has been Completed and
Flow Testing has Commenced
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 4, 2014) -
Petrichor Energy Inc. (TSX-VENTURE:PTP)(FRANKFURT:YQN) (the
"Company") announces that the Hinson #1 well (reference News
Release December 3, 10 & 12, 2013) has been cased, and
installation of production equipment has been completed. The well
is now being evaluated for optimal initial production from the
Caddo Lime, Marble Falls, Barnett Shale or Mississippi Lime
formations. Management is pleased with the preliminary results of
the well, which the operator successfully completed under budget
and ahead of schedule. The production evaluation is expected to
take approximately two weeks.
The Company owns a 66.67% working interest in the prospect,
which covers 11,695.33 acres to date, located within Young County,
Jack County, Archer County and Clay County, Texas.
The Mississippi Lime is a Mississippian age porous limestone
formation that is deposited beneath the Barnett Shale, which is
analogous to the Mississippi Lime play in Kansas and Oklahoma. The
Marble Falls formation is a Pennsylvanian age limestone, analogous
to the Strawn Lime play in West Texas. To date, independent
operators have drilled over 50 vertical and horizontal multi-stage
fraced wells in the Marble Falls and Mississippi limestone with
positive results.
ON BEHALF OF THE BOARD
Joe DeVries, CEO & President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release, including, without limitation,
statements relating other future plans, objectives or expectations
of the Company are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from the Company's plans or expectations include
risks relating to: availability of capital and financing required
to continue the Company's exploration programs and operations;
general economic, market or business conditions; the actual results
of current and planned exploration activities; fluctuating
commodity prices; risks associated with participation agreements,
leases, joint ventures and the ability to conclude such agreements
on favourable terms; possibility of accidents, equipment breakdowns
and delays during exploration and production; cost overruns or
unanticipated costs and expenses; regulatory changes and
restrictions including in relation to environmental liability;
timeliness of government or regulatory approvals and other risks
detailed herein and from time to time in the filings made by the
Company with securities regulators. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
legislation.
Petrichor Energy Inc.Joe DeVriesCEO & President(604)
336-8615(604) 718-2808www.petrichorenergy.com
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