Rider Resources Ltd. Provides an Operational Update

    CALGARY, Dec. 21 /CNW/ -

    Drilling Update
    To date in the fourth quarter, the Company has drilled 5 gross (5 net)
wells all of which have been successful. The drilling was comprised of a Rock
Creek gas well in the Pembina area, two successful multi-zone natural gas
wells in the Wapiti area, a successful Gething and Dunvegan well at Waskahigan
and a Charlie Lake, Bluesky success at Bilbo. Three of these wells have been
tested and should add approximately 1,000 boe of production by the end of
January 2008. The other two wells are being completed and tested with very
encouraging preliminary results.
    The Wapiti area was purchased in May, 2007, at that time the area was
producing 2,800 boe per day. Current production from this area is now
3,500 boe per day. With recent drilling success on this property, production
is expected to be 4,300 boe per day by the end of January 2008. Encouraging
drilling results and continued exploration in Wapiti, has provided Rider with
another solid core area in addition to Ferrier, Sunchild and Pembina with
which our team will continue to develop.

    Production Update
    Current production is approximately 12,000 boe per day with the
previously mentioned 1,000 boe per day coming on in early 2008. Fourth quarter
production should average about 11,700 boe per day compared to 11,422 boe per
day in the third quarter of 2007 and 8,613 boe per day in the fourth quarter
of 2006.

    Activity update for the first quarter of 2008
    During the first quarter of 2008, the Company expects to spend
approximately $25 million to drill 13.5 net wells. Activity will be focused on
drilling follow up locations to the recent successful wells in Bilbo,
Waskahigan and Wapiti. The Company currently has over 50 drilling locations
identified in these areas.

    Forward-Looking Statements
    This press release may contain forward-looking statements including
expectations of future production, cash flow and earnings. 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: the 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 reserve estimates; the uncertainty of estimates and projects relating to
production, costs and expenses, and health, safety and environmental risks),
commodity price, price and exchange rate fluctuation and uncertainties
resulting from the potential delays or changes in plans with respect to
exploration or development projects or capital expenditures. Additional
information on these and other factors that could affect Rider's operations or
financial results are included in Rider's reports on file with Canadian
securities regulatory authorities.

    %SEDAR: 00019089E

For further information:

For further information: Craig W. Stewart, President and Chief Executive
Officer, (403) 781-2445; or John W. Ferguson, Vice President, Chief Financial
Officer and Corporate Secretary, (403) 781-2446

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