Trivello Energy Corp.

Trivello Energy Corp.

December 06, 2007 12:03 ET

Trivello Energy Corp.: Drilling to Commence on Lucy Prospect

CALGARY, ALBERTA--(Marketwire - Dec. 6, 2007) - Trivello Energy Corp. (the "Company") (TSX VENTURE:TRV) is pleased to announce that pursuant to an "Independent Operations Notice" distributed by one of its Joint Venture Partners at Lucy (the "operator"), as well as a subsequent Partner Meeting, Trivello has opted to continue with its exploration program with an "earned in" 10% Working Interest (WI). After the operator conducted an internal geophysical review based on additional seismic that was acquired, a new drill location at A-079-A/094-P-04 was established and an application for a drilling license was submitted to the ministry of finance in B.C.

Furthermore, the Company has received a formal "Cash Call" from the operator to drill and case a new gas well at Lucy in the amount of $2,319,945. Trivello's 10% commitment equals to $231,994.5.

Also, Trivello received a "Cash Call" for its share of the soft costs for the construction of a pipeline at Lucy in the amount of $102,000 gross or $10,200 net. A drilling deposit of $239,108 gross or $23,910.80 net is also due. The Company will make payment for the above total of $266,105.3 to the operator immediately.

Trivello has received confirmation from the Lucy operator that a drilling rig has been contracted, the site is surveyed and the expected spud date of the Lucy A-079-A/094-P-04 Gas Well is December 20, 2007. 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. 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.

The Lucy gas 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.

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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
    (604) 687-3113 or Toll Free: 1-888-687-3113