Boulder Mining Corporation

Boulder Mining Corporation

November 14, 2006 17:00 ET

Boulder Mining Corporation: Aunt Audrey No. 1 Well Online in Bee County, Texas

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2006) - Opal Energy Inc. ("Opal"), a subsidiary of Boulder Mining Corporation ("Boulder"), (TSX VENTURE:BDR), is pleased to provide an update on the performance of the Britanco Aunt Audrey No. 1 re-entry well in which Opal has a 50% working interest.

The successful re-entry of the Aunt Audrey No. 1 was completed in mid-October. The objective Wilcox sand was perforated, tested, connected to the sales line and is now producing on an 8/64" choke at a stabilized rate of 585-600 Mcf (thousand cubic feet) a day with 20-25 bbls (barrels) a day of condensate and no water. Prior to completing the main objective sand at 7,900 feet, the well was cleaned out to a depth of 8,015 feet. Two deeper zones that were completed by the previous operator in the 1970s were tested and found to produce 60-100 Mcf and 1-2 bbls of condensate a day on a 12/64 choke. These lower zones were left open since no appreciable water production was observed during the test. The Aunt Audrey No. 1 well has two additional shallower objective zones that will be tested in the future and may impact the overall production strategy for the well. Reserves will be established and reported pursuant to National Policy 51-101 in due course.

Total cost borne by Opal for the re-entry was $326,000. Through an arrangement with Britanco, LLC, Opal was able to avoid approximately $125,000 in well hook-up costs by piggy-backing on existing production infrastructure.

Boulder Mining Corporation - Opal Energy Inc.

Boulder Mining Corporation, through its U.S. subsidiary Opal Energy Inc., offers an aggressive, disciplined and results-oriented vehicle to invest in the U.S. Exploration and Production "E&P" sector with a particular focus on natural gas exploration targets in South Texas. The business strategy is to build asset value through the drill bit, growing a production platform upon which will be superimposed some remarkable, high-impact exploration opportunities. Drilling inventory will be continuously enhanced by the implementation of a series of proprietary 3-D seismic shoots. Opal has attracted funding partners for an initial US$16 million South Texas exploration package that calls for drilling 10 wells and completing a 75 sq. mi. seismic shoot over the next 9 to 12 months. Interpretation of the seismic shoot is ultimately expected to uncover dozens of new high-quality drilling prospects starting in Q3-2007.

Effective November 21 or so, Boulder intends to; change its name to Opal Energy Corp, request a new trading symbol and unveil its new website under the address

On behalf of the Board of Directors

Boulder Mining Corporation

Ronald E. Oligney, CEO and Director

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

Contact Information