TSXV Symbol: AE.A and AE.B
26,365,607 Class A Shares
753,014 Class B Shares
CALGARY, Oct. 29 /CNW/ - Anterra Energy Inc. ("Anterra" or the "Company")
today announced that its Devonian Swan Hills new pool discovery well at LSD
09-19-62-11W5M in Judy Creek has been completed and is being placed on
production. Anterra holds a 100% working interest before payout and a 60%
working interest after payout in the well. Following completion, the final
swab rate for the well was 3 m3 of fluid per hour with an average oil cut of
99% (450 bopd). The Company is placing the 2,700 meter well on production at a
restricted rate of 300 barrels of oil per day and is trucking the oil to an
Anterra pipeline connected processing facility at Sakwatamau. Anterra is also
licensing a second well in the same pool which the Company expects to drill
and complete prior to year end 2007.
"We have invested over $3 million on land, 3-D seismic and drilling and
completion at Judy Creek this year and are pleased our efforts in this area
have been so successful," said Owen Pinnell, Chairman and CEO of Anterra.
"Subject to board approval, management will be proposing an extensive
exploration and development plan for the Judy Creek area in 2008. The plan
will include further 3-D seismic, up to five Swan Hills development wells, two
Swan Hills exploration wells and the construction of a pipeline connected
processing facility. This is a significant discovery and we anticipate that
Judy Creek will quickly become our primary producing asset."
Anterra Energy Inc. ("Anterra" or the "Company") is an emerging energy
company with a balanced portfolio of high impact exploration and lower risk
exploitation projects. Complementing this strong exploration and development
focus, the Company owns and operates oil and gas production and associated
fee-based midstream facilities in western Canada. Anterra is a public Canadian
company listed on the TSX Venture Exchange under the symbols AE.A and AE.B.
More information about Anterra is available on the internet at
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
This news release contains forward looking information related to the
planned drilling program, production and operating costs. 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, 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 estimates in relation to reserves, production and expenses, health, safety
and environmental risks; and government and regulatory risks). Due to the
risks, uncertainties and assumptions inherent in forward-looking statements,
prospective investors in the company's securities should not place undue
reliance on these forward-looking statements.
For further information:
For further information: Owen C. Pinnell, Chairman and Chief Executive
Officer, Anterra Energy Inc., Telephone: (403) 215-2427, Facsimile: (403)
261-6601, E-mail: firstname.lastname@example.org