Exall Energy Corporation

Exall Energy Corporation

February 21, 2008 12:33 ET

Exall Energy Corporation, Operations Update

CALGARY, ALBERTA--(Marketwire - Feb. 21, 2008) - Exall Energy Corporation (TSX:EE) ("Exall" or the "Company") announced today that plans to drill a horizontal well on the Marten Mountain prospect this winter are proceeding on schedule. The re-drill of the previously announced oil discovery (see Press release dated January 11, 2008) has been completed. The new well was re-drilled from surface and intermediate casing set into the zone. The open-hole horizontal leg penetrated 420 meters of Gilwood sand with indications of good porosity and hydrocarbon shows. Exall holds a 59.338% working interest BPO and 66% APO and in 6080 acres of P&NG rights in lands surrounding the well. A service rig will be moved onto the well as soon as possible to complete and production test the well.

Planning of permanent access and production facilities is also proceeding on schedule. Exall plans to complete installation of a permanent bridge and road access and production facilities prior to breakup.

Exall Energy Corporation is a Canadian junior energy company formed in November, 2006 and engaged in the exploration and development of oil and natural gas in Alberta, B.C., Texas and the U.K. North Sea.

Contact Information

  • Exall Energy Corporation
    Frank S. Rebeyka
    President and CEO
    (403) 815-6637
    Website: www.exall.com