Ridgeway Petroleum extends lowest known gas



    Listed: TSX Venture Exchange (Symbol: RGW)

    HOUSTON, TX, April 17 /CNW/ - Ridgeway Petroleum Corp. (the "Company") is
pleased to provide an update to the 12 well winter drilling program initiated
earlier this year.
    To date, the Company has completed the drilling of 5 wells and is
currently engaged in drilling operations on 3 additional wells. In addition,
the Company has completed testing on four of the wells and is continuing with
test operations on one other well.
    Since the last update of April 10, 2007 the Company has initiated testing
of the fractured Basement zone beneath the Granite Wash interval in the
11-06-31 well that had previously encountered gas shows while drilling. The
well is being open hole tested over the interval from 2,530 ft to 2,666 ft at
a stabilized, natural, rate of 0.3mm cubic feet per day at 180 lbs flowing
tubing pressure. The results of the testing to date has confirmed that the
basement fractures seen in this well are gas charged and can be expected to
contribute to additional reserves and productivity. The Company will review
performing a low pressure fracture treatment over this interval later this
summer that could significantly increase this rate.
    The results of this test program has confirmed the extension of the field
limits to the northeast and has also extended the lowest known gas by an
additional 55ft to a depth of 4,250ft above sea level. Further step out wells
that may be drilled at a later date could lead to a further extension of area
and lowest known gas.
    The Company also reports that it is currently running intermediate casing
on the 11-07-31 and the 11-18-31 wells after each well penetrated the very top
of the Fort Apache interval with strong CO2 gas shows being encountered in
each well. We will provide additional updates to these wells once total depth
has been reached.
    The test results to date has now confirmed that natural production from
the Ft Apache, Amos Wash, Granite Wash and fractured Basement reservoirs can
occur without reservoir stimulation, and based on past results could be
significantly improved with low pressure fracture treatments and potentially,
horizontal completions.

    Ridgeway Petroleum is a development stage, enhanced oil recovery (EOR),
company that controls approximately 200,000 acres of land within the St Johns
Helium/CO2 field in Arizona and New Mexico where the Company is developing
what is thought to be the largest undeveloped resource of helium and carbon
dioxide gases in North America. Independent engineering firms have estimated
that the St Johns field contains approximately 15 trillion cubic feet of in
place resources, with a potential recoverable resource of 5 trillion cubic
feet. Development of the project could result in the Company becoming one of
North America's largest CO2 suppliers and EOR producers. The Company's
strategic focus for CO2 delivery and EOR production is the Permian Basin where
significant potential exists for enhanced oil recovery from mature, depleted
oil fields.

    ON BEHALF OF THE BOARD OF DIRECTORS



    Barry D Lasker, CEO

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    %SEDAR: 00004538E




For further information:

For further information: visit our Website at www.ridgewaypetroleum.com,
or Retail Investors please call Don Currie on 1-888-990-3551; Institutional
Investors please call Jonathan Buick at The Buick Group on 1-877-748-0914 or
email jbuick@buickgroup.com

Organization Profile

RIDGEWAY PETROLEUM CORP.

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