Chinook Energy Inc.

Chinook Energy Inc.

October 01, 2010 18:00 ET

Chinook Energy Announces Completion Results for the Jenein Centre #1 Exploration Well

CALGARY, ALBERTA--(Marketwire - Oct. 1, 2010) - Chinook Energy Inc. (TSX:CKE) ("Chinook") announced today that the Jenein Centre #1 exploration well, operated by an indirect wholly-owned subsidiary of Chinook, has been suspended following an unsuccessful completion attempt on the Silurian Acacus Formation. A number of perforated levels in the Acacus were evaluated. Some intervals were determined to be water bearing and others may have been damaged. Data obtained during the test operations will be evaluated to determine the extent of the damage and if remedial action is feasible. Chinook's subsidiary is the operator of the well with a 65% interest. The well will be re-entered at a later date and a completion will be attempted on the secondary target in the Ordovician which is prospective for gas and condensate. The existing well bore configuration does not allow for a stimulation operation that will be required to produce the Ordovician.

The Jenein Centre #1 well fulfils all exploration commitments for the permit. Chinook will evaluate plans for future exploration on the block and its Ordovician gas strategy for the area. Chinook's next operation in Tunisia is the drilling of the TT-3 appraisal well on the Remada Permit which is scheduled to spud on or about November 1, 2010.

About Chinook Energy Inc.

Chinook is a Calgary-based public oil and gas exploration and development company that combines high quality gas-weighted assets in Western Canada with an exciting high growth oil business onshore and offshore Tunisia in North Africa. 

Reader Advisory

Certain information regarding Chinook in this news release including management's assessment of the future plans and operations of Chinook and the timing thereof constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, capital expenditure costs, including drilling, completion and facilities costs, unexpected decline rates in wells, delays in projects and/or operations resulting from surface conditions, wells not performing as expected, delays resulting from or inability to obtain the required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the forgoing list of factors is not exhaustive. Additional information on these and other factors that could effect Chinook's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website ( and at Chinook's website ( Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Chinook does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Contact Information

  • Chinook Energy Inc.
    Matthew Brister
    President and Chief Executive Officer
    (403) 261-6883
    Chinook Energy Inc.
    L. Geoff Barlow
    Vice-President, Finance and Chief Financial Officer
    (403) 261-6883