Lynden Energy Corp.
TSX VENTURE : LVL

Lynden Energy Corp.

November 19, 2009 11:13 ET

Lynden Energy Corp.: First Wolfberry Well Spudded

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2009) - Lynden Energy Corp. (TSX VENTURE:LVL) reports that the first of three wells scheduled to be drilled in the next 90 days has been spudded on the company's recently acquired Wolfberry Project.

The first well, Harrel 34 #1, is expected to be drilled to a total depth of approximately 10,850 feet and will primarily target oil (and gas) production from the Spraberry and Wolfcamp formations, which are of Permian age and informally grouped to form the "Wolfberry" interval or zone. Secondary targets, such as the Strawn and Atoka, will also be evaluated for completion.

Typical Wolfberry wells involve completions over a 2,500 to 3,000 foot gross interval, generally located between 7,000 and 10,500 feet, drilling depth. The well is expected to take approximately 12 to 14 days to drill, followed by 8 to 10 fracture stimulation stages. There is significant infrastructure in proximity to the Harrel 34 #1, and based on completion results, the well will be immediately tied-in to production. Lynden is earning a 43.75% interest in the Harrell 34 #1 by funding 50% of the cost of the well.

The Wolfberry Project covers approximately 13,300 gross (12,063 net) acres in the Glasscock, Howard, Martin, Midland, and Sterling counties of West Texas. Lynden's interest in the project ranges from 21.875% to 47.5%. The leases are contained within five prospect areas around which five areas of mutual interest ("AMI") have been established.

The Wolfberry Project is operated by CrownQuest Operating LLC of Midland, Texas, an operator with extensive knowledge and experience in operating in West Texas. In the last two years, CrownQuest has drilled or participated in over 40 new wells where the completion techniques associated with Wolfberry wells have been successfully applied in areas adjacent, or in proximity, to the AMIs.

ON BEHALF OF THE BOARD OF DIRECTORS

LYNDEN ENERGY CORP.

"Colin Watt"

President and CEO

FORWARD-LOOKING STATEMENTS DISCLAIMER: This news release contains forward-looking statements. The reader is cautioned that assumptions used in the preparation of such statements, although considered accurate at the time of preparation, may prove incorrect, and the actual results may vary materially from the statements made herein. Consequently, there is no representation by Lynden that three wells will be drilled in the next 90 days. Actual intervals selected for completion and number of fracture stimulation stages will be determined based on information available at the time the completions are initiated. Expected timelines relating to oil and gas operations are subject to the customary risks of the oil and gas industry.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Lynden Energy Corp.
    Colin Watt
    President and CEO
    (604) 629-2991
    (604) 602-9311 (FAX)