Alberta Clipper Energy Inc. (ACN - TSX) Announces a New Light Oil Discovery in the Sylvan Lake Area of Alberta



    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES./

    CALGARY, March 5 /CNW/ - Alberta Clipper Energy Inc. ("Alberta Clipper"
or the "Company") advises that it has recently tested a new significant light
oil discovery in the Sylvan Lake area of Alberta. This latest discovery brings
the total number of new Leduc pools discovered by the Company in this area to
five, with a further well undergoing completion operations.
    Details on the 11-35-38-4W5 discovery well ("11-35") are as follows. The
well encountered approximately 52 feet of net pay, averaging 8% porosity, from
the Leduc Formation. During the 48 hour testing period, the well flowed at an
average rate of 900 boe/d. Alberta Clipper operates the well and holds a 50%
working interest in the new pool. At a recent land sale, Alberta Clipper was
successful in acquiring the section directly offsetting the 11-35 discovery
well. The Company has identified 2 further Leduc locations on the newly
acquired acreage where it holds a 50% working interest. All new discoveries in
the Sylvan Lake Area are subject to a Maximum Rate Limitation ("MRL") as
determined by the Alberta Energy and Utilities Board upon commencement of
production.
    Alberta Clipper's contracted service rig has now moved from the
7-5-38-4W5 location where it has completed down hole mechanical repairs and is
currently carrying out completion operations on the Upper Leduc zone in the
6-15-37-5W5 well, where the Company holds a 100% working interest. Alberta
Clipper now has an opportunity inventory of 22 Leduc exploration prospects in
the greater Sylvan Lake area, all of which are defined on 3D seismic.

    Alberta Clipper Energy Inc. is a publicly traded Canadian energy company
involved in the exploration, development and production of natural gas and
crude oil in western Canada.

    FORWARD LOOKING STATEMENTS
    This press release may contain forward-looking statements including
expectations of future production. More particularly, this press release
contains statements concerning Alberta Clipper's future production estimates,
expansion of oil and gas property and facilities interests, exploration and
development drilling, regulatory applications, payout estimates, capital
expenditures, and drilling locations to be drilled in 2007. These statements
are based on current expectations that involve a number of risks and
uncertainties, which could cause actual results to differ from those
anticipated. These risks include, but are not limited to: the risks associated
with the oil and gas industry (e.g., operational risks in development,
exploration and production; delays or changes in plans with respect to
exploration or development projects or capital expenditures; the uncertainty
of reserve estimates; the uncertainty of estimates and projections relating to
production, costs and expenses, and health, safety and environmental risks),
commodity price, price and exchange rate fluctuation and uncertainties
resulting from potential delays or changes in plans with respect to
exploration or development projects or capital expenditures. Additional
information on these and other factors that could affect Alberta Clipper's
operations or financial results are included in Alberta Clipper's reports on
file with Canadian securities regulatory authorities.
    The forward-looking statements or information contained in this news
release are made as of the date hereof and Alberta Clipper undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.

    Oil and Gas Advisory
    This press release contains disclosure expressed as "Boe/d". All oil and
natural gas equivalency volumes have been derived using the ratio of
six thousand cubic feet of natural gas to one barrel of oil. Equivalency
measures may be misleading, particularly if used in isolation. A conversion
ratio of six thousand cubic feet of natural gas to one barrel of oil is based
on an energy equivalency conversion method primarily applicable at the burner
tip and does not represent a value equivalency at the well head.

    The Toronto Stock Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release. Not for
    distribution to U.S. newswire services or for dissemination in the United
    States. Any failure to comply with this restriction may constitute a
    violation of U.S. securities law.

    %SEDAR: 00022458EE




For further information:

For further information: Kel Johnston, President & C.E.O, Alberta
Clipper Energy Inc., Telephone: (403) 440-3474, Facsimile: (403) 440-3475,
Website: www.albertaclipperenergy.com

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ALBERTA CLIPPER ENERGY INC.

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