CALGARY, April 4 /CNW/ - WIN Energy Corporation ("WIN" or the
"Corporation") is pleased to provide an operational update.
WIN, through its wholly owned US subsidiary, acquired a petroleum and
natural gas lease dated March 9, 2007 covering 93,603 gross acres (79,009 net
acres) of land in Montana located approximately 30 miles west of Great Falls,
Montana. This lease was acquired pursuant to the Option to Purchase Agreement
dated October, 2006 which WIN entered into in November 2006 and which WIN
discussed in the Press Release of November 6, 2006. The lease has a ten year
The lands granted by the lease cover a thick section of both clastic and
carbonate sediments. Management has identified potential oil and/or gas zones
in the shallow Cretaceous horizons, at drilling depths between 800-1,500
meters in a number of old wells drilled on the lands which they feel are
missed "pay". Additional oil and gas potential lies in the deeper
Mississippian and Devonian reefs at drilling depths of approximately 2,000
meters. The lease covers the equivalent of 146 sections of land in an area
prospective for multi zone oil and natural gas targets.
Management has identified four separate structural anomalies based on
well data combined with surface geology. Management intends to carry out
additional seismic, aeromagnetic and gravity surveys to identify drillable
prospects. At the time drillable prospects are identified a drilling budget
and strategy for these prospects will be developed.
The property is strategically located on a main gas transmission
infrastructure line. The line has surplus capacity which will allow WIN to
market gas in Montana and it would allow for off systems sales into the West
Coast or Canada.
This purchase provides WIN with a second core area but it does not change
WIN's primary focus that is currently the Triangle Zone in Southwest Alberta.
This acquisition gives WIN diversity with both shallow and deeper natural gas
and oil drilling prospects.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
This press release contains forward-looking statements, including but not
limited to operational information including drilling projections, production
and processing projections. These projections are based on current
expectations and are subject to a number of risks and uncertainties that could
materially affect the results. 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; and
the uncertainty of estimates and projections in relation to production, costs
and expenses), drilling equipment availability and the risk of commodity price
and foreign exchange rate fluctuations. 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
For further information:
For further information: William J. Kiff, President and Chief Executive
Officer, or Matthew Philipchuk, Vice President Corporate Development, WIN
Energy Corporation, Telephone: (403) 265-7787, Fax: (403) 265-7767