CALGARY, Aug. 16 /CNW/ - Stealth Ventures Ltd. and Nabors Drilling are
please to announce that they have successfully drilled the first Reverse
Circulation Center Discharge (RCCD) well using Nabors new technology (under
license from Pressol Ltd). Stealth is the first operator in Canada to use this
technology implementing it on their Cretaceous Colorado shale gas play in
Alberta. "The Cretaceous Colorado is one of the biggest untapped
unconventional gas resources in North America which, to date, has had little
commercial success and has been waiting for technological breakthroughs like
Nabors' RCCD underbalanced technique." says Derek Krivak Chief Operating
Officer at Stealth.
Reverse Circulation Center Discharge (RCCD) drilling is a novel
underbalanced drilling technology, developed by Pressol Ltd., aimed at
reducing formation damage to fragile production zones. It allows improved
development of under-pressured and/or water sensitive formations. Adapted for
use on Nabors state-of-the-art hybrid Top Drive/Coil Tubing programmable AC
electric drilling rigs, RCCD enables these rigs to match the best drilling
technique to the formation to optimize drilling performance and well
"Nabors is pleased to work with an innovative company like Stealth to
successfully introduce the RCCD drilling technology. Nabors believes that
innovative technologies like RCCD and programmable AC electric PACE drilling
rigs will be an important component in the future development in both
unconventional and conventional plays," says Mike Read, VP, Product
Development, Nabors Canada.
Stealth is a Calgary-based junior oil and gas company whose expertise and
focus is on "unconventional" gas reserves including CBM, shale gas and tight
gas sand reservoirs.
The Nabors companies own and operate almost 600 land drilling and
approximately 970 land workover and well-servicing rigs worldwide. Nabors
participates in most of the significant oil, gas and geothermal markets in the
STEALTH VENTURES LTD.
"W. Robert Bell"
Per: W. ROBERT BELL
Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS
RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS
MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED.
For further information:
For further information: W. Robert Bell, CEO, Mark J. Roth, CFO, Stealth
Ventures Ltd., Tel.: (403) 514-9998, Fax: (403) 514-9995, Emails:
email@example.com; Investor Relations, First Canadian
Capital Corp, Tel.: (416) 742-5600, Tel.: (866) 580-8891, Email: