June 21, 2005 12:38 ET

Arapahoe Energy Corporation: News Release

CALGARY, ALBERTA--(CCNMatthews - June 21, 2005) - Arapahoe Energy Corporation (TSX VENTURE:AAO) (the "Corporation" - "Arapahoe") announces that anticipated drilling commencement date for the test well C1 et al Sarcee 12-13-23-4 W5M ("12-13 Test Well") has been delayed from June 21, 2005 due to adverse weather conditions.

It is anticipated that, weather conditions permitting, the 12-13 Test Well will commence drilling prior to the end of June 2005. The 12-13 Test Well will be drilled to a depth of approximately 3,300 meters subsurface and will take approximately 75 to 90 day to drill and case. The target is a potential 25 - 50 BCF liquid rich gas reserve from the Mississippian-Rundle formation identified on 3D seismic. Similar targets in this region feature high deliverability, liquid rich gas accumulations, demonstrating long reserve life indices that could be produced into currently underutilized third party facilities. Arapahoe's Sarcee project area encompasses both high impact exploratory and high impact development potential that will continue to be the focus of the company through 2005 and 2006. Arapahoe will fund 30% of the costs of the 12-13 Test Well and will retain a 21.5% working interest in the Test Well after drilling and completion.

The Corporation is a publicly traded junior oil and natural gas exploration company with its shares listed on the TSX Venture Exchange under the trading symbol "AAO". The Corporation is engaged in the exploration, development and production of oil and natural gas in Western Canada. Arapahoe's primary area of exploration focus is the Alberta Foothills specifically on the Tsuu T'ina First Nation (Sarcee Area) immediately west of the City of Calgary.

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

Contact Information

  • Arapahoe Energy Corporation
    Jeffrey L. Standen
    Chief Executive Officer and President
    (403) 920-0040 (ext. 1)