TSX.V - CER
CALGARY, April 11 /CNW/ - Further to the Company's News Release dated
December 5, 2006, Circumpacific Energy Corporation announces an update of its
first quarter drilling programs.
In Colgate, SE Saskatchewan, the two new horizontal wells have been
drilled and completed. The first well, in which the Company has a 12.382%
working interest, commenced production on February 21, 2007 at a stabilized
rate of 220 barrels of oil per day.
The second well, in which the Company has an 11.322% working interest,
has been completed and tied-in. However, the well is experiencing excess water
production and will be further evaluated. The operator has proposed a remedial
program to reduce the water flow and increase oil production. The program is
expected to commence in April, 2007.
The operator at Colgate has also proposed two new, dual-leg horizontal
development wells, the first of which will commence in early April, 2007
unless spring break-up causes the well to be deferred to May. The company has
a 12.382% working interest in this well. A second dual-leg horizontal will be
drilled following the first well. The Company has a 7.4292% working interest
in the second well.
In the Kakwa Area of Central Alberta, the Company participated for a
pooled 6.25% working interest in a well that was drilled and completed. The
well was put into production in late February at initial production rates of
36 barrels of oil per day and 310 mcf of gas per day.
Circumpacific is a Calgary based, junior oil and natural gas exploration
and development company with offices in the City of Calgary, Alberta, Canada.
Circumpacific's shares trade on the TSX Venture Exchange under the symbol CER.
The TSX Venture Exchange has neither approved nor disapproved of the
information contained herein.
For further information:
For further information: visit Circumpacific's website at