Trivello Energy Corp.
TSX VENTURE : TRV

Trivello Energy Corp.

January 07, 2008 10:35 ET

Trivello Energy Corp.: Drilling Commences on Lucy Prospect

CALGARY, ALBERTA--(Marketwire - Jan. 7, 2008) - Trivello Energy Corp. (Trivello or the "Company") (TSX VENTURE:TRV) is pleased to announce the operator of the Company's Lucy Prospect has spudded the gas well and planned drilling operations are underway. Up-to-date progress reports will be provided as they become available.

Trivello has fully funded its share of its earned in 10% Working Interest (WI) for the drilling of the new gas well in the Lucy Prospect. Previous exploration once by a major, and again by Trivello and its joint venture partners did not result in encountering economically recoverable hydrocarbons. Subsequently, after conducting an internal geophysical review based on additional new seismic information, the current well location was established.

The Lucy Prospect is located in northeast British Columbia, approx. 50 kilometers northeast of Fort Nelson, B.C. The target is a Devonian Pine Point carbonate reef (Keg River Reef), which is on strike with analogous fields 10 miles to the north and nine miles to the south. This gas test well will be drilled to an approximate depth of 7,500 feet. Upon realization of successful drilling results, the Operator believes that the well can be tied in and generating cash flow by end of Q2 2008.

An independent engineering report estimates "prospective resource" at a low of 3.2 bcf to a high of 15.3 bcf and a best estimate of 7.67 bcf of marketable gas. This engineering report is available on SEDAR. Investors are cautioned not to assume that any part or all of the resources in this category will ever be converted into reserves, or are economically recoverable, or can it be assumed that any part of a "prospective resource" will ever be upgraded to a higher category. In addition, "prospective resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility.

To read more about the Lucy Prospect, please log on to www.trivello.com.

On behalf on the Board of Directors:

Arndt Roehlig, President

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

Contact Information

  • Trivello Energy Corp.
    Arndt Roehlig
    President
    (604) 687-3113 or Toll Free: 1-888-687-3113
    Website: www.trivello.com