Ryland Oil Corporation
TSX VENTURE : RYD

Ryland Oil Corporation

November 15, 2007 08:30 ET

Ryland Oil Corporation Announces Spudding of New Well

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2007) - Ryland Oil Corporation (the "Company") (TSX VENTURE:RYD) is pleased to announce that it has spudded a well in the southeast region of its Saskatchewan property. Drilling is expected to take approximately three weeks. The new well is the first of four planned wells comprising the second phase of the Company's exploration drilling program. Three of the wells are being drilled for the purpose of testing the objective formation on the southeastern extent of the Company's leasehold block. In addition, three more prospective horizons will be assessed as part of this phase two drilling program. The fourth proposed well will be a re-entry and fracture stimulation of the wellbore recently acquired from Jadex Energy Ltd. with a view to improving the productivity from the objective formation. The Company has secured the use of a work-over rig and expects to commence work on that well shortly. The Company believes that successful recompletion of this well will confirm additional development drilling opportunities on the Jadex acreage and the Company's neighbouring properties.

Issued and Outstanding: 108,954,259

The TSX Venture Exchange has not reviewed and does not accept any responsibility for the adequacy or accuracy of this news release, and no regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Ryland Oil Corporation
    Gerald J. Shields
    President
    (604) 742-2528
    (604) 736-5004 (FAX)