Exceed Energy Inc.

Exceed Energy Inc.

April 04, 2006 07:00 ET

Exceed Energy Achieves 300 BOE/D

CALGARY, ALBERTA--(CCNMatthews - April 4, 2006) - Exceed (TSX VENTURE:EX.A) (TSX VENTURE:EX.B) is pleased to report that it has achieved production of 300 BOE per day at the end of the first quarter of 2006. This production has resulted exclusively from the drilling, completions, re-completions and tie-ins of wells.

Production realizable from four wells is not included in the above stated production rate. At the end of the third quarter the company had one well (37.5% net) in Camao down due to pump problems awaiting a workover; a well (33.3% net) in Phoenix suspended due to third party facilities modifications; a well (40% net) in Grande Prairie awaiting pipeline approval from stakeholders; and one well (10% net) in Willesden Green awaiting re-completion after breakup.

Exceed has an ambitious six well drilling program in the second quarter of 2006.

Forward Looking Statements

This press release may contain forward-looking statements including expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projects relating to production, costs and expenses, and health, safety and environmental risks), commodity price, price and exchange rate fluctuation and uncertainties resulting from the potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Additional information on these and other factors that could affect Exceed's operations or financial results are included in Exceed's reports on file with Canadian securities regulatory authorities that may be accessed at www.sedar.com or through the Company's website, www.exceedenergy.com.

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

Contact Information

  • Exceed Energy Inc.
    Richard Wolfli
    President & CEO
    (403) 508-1853
    (403) 508-1781 (FAX)
    Website: www.exceedenergy.com