Turnkey E&P Inc.

Turnkey E&P Inc.

December 24, 2007 10:11 ET

Additional Test Results Pending on Turnkey E&P Inc.'s P. Cox #2 Well

CALGARY, ALBERTA--(Marketwire - Dec. 24, 2007) - Turnkey E&P Inc. ("Turnkey") (TSX:TKY), today reported that its P. Cox #2 well in the Clear Creek Field was flowing significant quantities of oil per day from the A zone during production testing which was anticipated in its December 19, 2007 press release. It is anticipated that a press release with detailed results will be issued on December 26, 2007 after a representative production test period has elapsed.

Turnkey E&P Inc. is a drilling and completions contractor and an independent oil and gas company that is focusing its oil and natural gas drilling and exploitation and production activities in the continental United States using Casing Drilling® technology. Casing Drilling® is a registered trademark of Tesco Corporation. Additional information about Turnkey can be found at its website: www.turnkeyep.com.

This release and the Company's website referenced in this release contain forward-looking statements including expectations of future production and components of cash flow and earnings. Investors are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Turnkey. These risks include, but are not limited to; the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to; operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks including, without limitation, blowouts and spills, and the uncertainty of estimates and projections of production, costs and expenses. The risks outlined above should not be construed as exhaustive. Investors are cautioned not to place undue reliance on any forward-looking information. Turnkey undertakes no obligation to update or revise any forward-looking statements except as required under applicable securities laws.

Contact Information

  • Turnkey E&P Inc.
    Martin Hall
    Chief Financial Officer
    (403) 616-3910
    Website: www.turnkeyep.com