Storm Ventures International Inc.

Storm Ventures International Inc.

April 25, 2008 09:00 ET

Storm Ventures International Inc.: News Release

CALGARY, ALBERTA--(Marketwire - April 25, 2008) -


Storm Ventures International Inc. ("SVI") of Calgary, Alberta (acting as contractor and the National Oil Company, Entreprise Tunisienne D'Activites Petrolieres (ETAP) as a holder of the Remada Sud Permit) announces that the TT2 exploration well on the Remada Sud permit in southern Tunisia reached total depth of 1500 metres in the Ordovician Kasbah Leguine Formation on April 16, 2008. Partners in the well include Madalena Ventures International Inc. (15% after earning and assignment) and Cygam Energy Inc. (14%). The 1.2 million acre Remada Sud permit is located in the Ghadames Basin. The well was drilled without incident or accident by High Arctic's Rapad Rig 2.

The pre-drilling expectation of encountering a 50 metre hydrocarbon column in relatively tight Ordovician quartzites appears to have been achieved. A 60 metre core was cut through the potential reservoir and a full suite of open hole logs was run. The well is currently being tested open hole and will be cased for completion and extended production test to determine commerciality. Depending upon the outcome of the core evaluation and the initial testing program, the well may require fracture stimulation to achieve commercial flow rates. Timing of this subsequent operation is likely to be within 60-90 days of rig release, subject to equipment availability.

An additional announcement will be made following completion of the testing program and rig release.

This news release is not for dissemination in the United States or to any United States news services. The common shares of SVI have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Contact Information

  • Storm Ventures International Inc.
    Matthew J. Brister
    President & Chief Executive Officer
    (403) 471-7288
    Storm Ventures International Inc.
    L. Geoffrey Barlow
    Chief Financial Officer
    (403) 265-1619
    (403) 265-2746 (FAX)