Roadrunner Oil & Gas Inc.

June 04, 2009 09:30 ET

Roadrunner Announces Gothic Shale Drilling Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2009) - Roadrunner Oil & Gas Inc. (TSX VENTURE:ROA) (the "Company") announces that it has acquired a 50% working interest in approximately 5,990 gross and net acres located in San Miguel County, Colorado from EnCana Oil & Gas (USA) Inc. The acquired acreage is located in close proximity to the Company's existing Steamroller Prospect and recent successful drilling and completion activity by Bill Barrett Corporation (NYSE: BBG).

The Company, along with its 50% working interest partner, plans to re-enter and deepen an existing, non-producing EnCana well. The well will be deepened and drilled horizontally to test the Gothic Shale on a portion of the acquired acreage, at an estimated gross cost of $1.6 million ($800,000 US net to Roadrunner). Drilling operations are scheduled to commence on or before June 30, 2009. The Company anticipates completing the well prior to August 15, 2009. The existing well is located within 2 miles of available pipeline capacity.

About Roadrunner Oil & Gas:

With operations based in Littleton, Colorado, Roadrunner Oil & Gas is a well funded TSX Tier 2 corporation with an experienced management and exploration team. Utilizing unconventional state-of-the-art drilling technologies, the company is engaged in the acquisition, exploration, development, and production of oil and gas resources. Projects are currently located in the states of Colorado, Michigan, North Dakota and Utah.

Forward-Looking Information: The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
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