SkyWest Energy Corp.
TSX VENTURE : SKW

SkyWest Energy Corp.

August 23, 2010 19:07 ET

SkyWest Provides First Cardium Horizontal Well Update

CALGARY, ALBERTA--(Marketwire - Aug. 23, 2010) - SkyWest Energy Corp. ("SkyWest or the "Company") (TSX VENTURE:SKW) is pleased to report the results of its first Cardium horizontal well in the South Pembina area, Alberta.

The well was successfully stimulated with a 13–stage frac treatment and flowed to clean-up for approximately 72 hours. Over a subsequent 48 hour production test, the well flowed at 335 barrels of oil and liquids per day and 1.2 MMcf/d of natural gas for a combined production rate of 530 BOE per day. To date approximately 60% of the load oil has been recovered. The well is expected to commence production in September, 2010. The Company has a 43.75% working interest in this well.

At Willesden Green, SkyWest is currently drilling its second horizontal (100%) well in the Cardium formation, with an anticipated September completion.

SkyWest Energy Corp. is a Cardium focused exploration and production Company based in Calgary, Alberta, Canada.

Statements herein that are not historical facts may be considered forward looking statements including management's assessment of future plans and operations, growth expectations within the Corporation, expected initial production rates from certain new wells, timing of completion of wells and of production additions, expected size of various plays, construction or expansion of facilities and the timing thereof and expected costs and the effects thereof, drilling plans and the effects thereof.

Readers are cautioned that the foregoing list of factors and assumptions is not exhaustive. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and SkyWest does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

BOEs

Disclosure provided herein in respect of barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead

Contact Information

  • SkyWest Energy Corp.
    Lawrence D. Urichuk
    President & CEO
    403-265-0071 ext.201
    or
    SkyWest Energy Corp.
    Joel MacLeod
    Vice President, Finance & CFO
    403-265-0071 ext.203