Acadian Energy Inc.

August 02, 2011 10:20 ET

Acadian Energy Contracts Greenfield Oil Simulation Project for the New Albany Shale

TORONTO, ONTARIO--(Marketwire - Aug. 2, 2011) - Acadian Energy Inc. (TSX VENTURE:ACX) – This July, Acadian awarded Fekete Associates Inc., of Calgary to complete a Greenfield Oil Simulation Project to assist in realizing the oil potential in the New Albany Shale. Greenfield simulations are meant to optimize operations and planning and to help mitigate risk. Fekete provides practical and advanced solutions for reservoir engineering and production optimization projects for the oil and gas industry.

For the past 90 days Acadian has been involved with obtaining additional knowledge of our Greenfield project. During the interview process for vendor selection, both Lisa Dean, Manager of Geological Studies and Ray Mireault, Manager of Production Optimization at Fekete Associates stood out amongst their competition. "I believe that Fekete Associates has a strong interest in our project, understands our budget, and will work to a mutually beneficial conclusion," John McDevitt, CEO, Acadian Energy.

Fekete has a full-time staff of over 180 engineers, geologists, technologists, programmers, and support personnel. They ensure all aspects of geology, geophysics, petrophysics, reserves, pressure and deliverability are incorporated for developing a comprehensive reservoir characterization model. Their client list includes over 1,000 companies worldwide. They are on the leading edge of reservoir engineering research, and have delivered a wide variety of projects resulting in better reservoir management and production optimization for their clients.

Acadian also reports that in regard to its Farmout Agreement for shallow oil in its leases and Area of Interest, the seismic exploration expected to have been completed in June is continuing and the Company has not yet received any of the data from its partner.

About Acadian:

Acadian is a junior exploration and production company which is focused on the exploration and development of New Albany shale oil and natural gas in the Illinois Basin. The Company continues to expand the existing NI 51-101 compliant primary Gas Reserve value of US$32.4 million, (31/03/10) based on its existing 15,100 gross acres under lease. Not included in its reserve is any value from a Farmout Agreement for the exploration and development of 10,000 of those acres for shallow and limestone reef oil. Acadian has 6,044,905 shares basic outstanding, (8,309,518 fully diluted) and trades on the TSX Venture Exchange under the symbol ACX.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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