Donnybrook Energy Inc.
TSX VENTURE : DEI

Donnybrook Energy Inc.

November 22, 2010 09:00 ET

Donnybrook Energy Inc.: Resthaven Montney Well Scheduled for January 2011 Drilling; Deep Basin Montney Rights Increased to 40 Gross Sections

CALGARY, ALBERTA--(Marketwire - Nov. 22, 2010) - Malcolm Todd, Chief Executive Officer of Donnybrook Energy Inc. (TSX VENTURE:DEI) reports that Donnybrook Energy has entered into a Farmout Agreement to drill a horizontal multi-stage frac Triassic Montney test at Resthaven, Alberta.

Donnybrook Energy will pay 70% of the costs to drill, complete, equip and tie-in the well to earn a 70% working interest in the section where the well will be drilled, subject to a 12.5% non-convertible gross over-riding royalty. Donnybrook Energy will also earn a 49% working interest in 4 adjacent sections prospective for Montney production.

It is anticipated that Donnybrook Energy, as operator, will commence drilling operations by mid-January 2011. The well is to be drilled within 4 miles of a recently announced Montney discovery well that was reported to have produced at an estimated rate of 2,200 barrels of oil equivalent per day of liquid rich natural gas after six days on test.

Donnybrook Energy also reports that it acquired 6 sections of petroleum and natural gas rights targeting liquid rich Montney gas at the November 17th Alberta Crown land sale. Donnybrook Energy now owns working interests in 40 gross sections (26.16 net sections) of Montney petroleum and natural gas rights in its core area of the Alberta Deep Basin.

Additionally, Donnybrook Energy expects that its previously announced Montney horizontal drilling location at Deep Valley-Simonette (25% BPO/50% APO) will be spud by Cequence Energy within the next two weeks.

Donnybrook Energy is an emerging Canadian oil and natural gas exploration and production company, focused on horizontal multi-stage frac development in the liquid-rich Montney and Bluesky formations in the Deep Basin area of west central Alberta.

ON BEHALF OF THE BOARD OF DONNYBROOK ENERGY INC.

Malcolm Todd, Chief Executive Officer

Where amounts are expressed on a barrel of oil equivalent ("BOE") basis, natural gas volumes have been converted to oil equivalence at six thousand cubic feet per barrel. The term BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet per barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. References to oil in this discussion include crude oil and natural gas liquids ("NGLs"). NGLs include condensate, propane, butane and ethane. References to gas in this discussion include natural gas.

Neither 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 news release.

Contact Information

  • Donnybrook Energy Inc.
    Malcolm Todd
    Chief Executive Officer
    (604) 684-2356
    (604) 684-4265 (FAX)
    www.donnybrookenergy.ca