Contact Exploration Inc.

Contact Exploration Inc.

November 21, 2005 09:15 ET

Contact Exploration Inc.: Stoney Creek 3-D Seismic Completed

CALGARY, ALBERTA--(CCNMatthews - Nov. 21, 2005) - Contact Exploration Inc. (TSX VENTURE:CEX) is pleased to announce that it has completed shooting a 6.6 square mile 3-D seismic survey over the entire New Brunswick Stoney Creek field. Seismic interpretation and reservoir modeling are in progress. Initial results confirm our exploration hypothesis and will allow us to proceed with selecting initial horizontal locations by year-end. This seismic is also being utilized as a template to identify additional Stoney Creek-type plays on our surrounding 60,000 acre land holdings.

Located approximately 10 miles south of Moncton, New Brunswick, Stoney Creek is in close proximity to the largest consumption market in North America with existing pipeline and refinery infrastructure in place. Recognized as one of the oldest producing fields in Canada, the Stoney Creek field produced approximately 800,000 bbl of oil and 28.7 billion cubic feet of gas from 1909 to 1991. The reservoir is approximately 2,500 feet deep and averages 100 feet in thickness. The reservoir quality is excellent with porosity averaging 18% and permeability averaging 160 md. To date, less than 5% of the original oil in place has been recovered. Incremental gas reserves also exist. Utilizing 3-D seismic, 3-D reservoir modeling and horizontal drilling technology, Contact Exploration plans to exploit incremental oil and gas from the field.

Contact Exploration would also like to announce that Mr. David Bajwa has been retained to provide investor relation services to the company. Mr. Bajwa is an investor relations consultant and has been engaged to provide information dissemination to investors for a one year period for a fee of $2,500 per month.

About Contact

Contact is a junior exploration company with a focus on Canadian East Coast onshore exploration. Contact has interests in approximately 2.3 million acres onshore Nova Scotia. In addition, Contact has interests in approximately 160,000 acres onshore West Newfoundland and 62,000 acres onshore New Brunswick.

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

Contact Information

  • Contact Exploration Inc.
    Mr. Terry Brown
    (403) 234-8663
    (403) 237-5816 (FAX)