Javelin Energy Inc.

Javelin Energy Inc.

January 02, 2007 17:22 ET

Javelin Announces Triassic Oil and Gas Discovery at Clear Prairie, Alberta

CALGARY, ALBERTA--(CCNMatthews - Jan. 2, 2007) - JAVELIN ENERGY INC. (TSX VENTURE:JAV) ("Javelin" or the "Corporation") is pleased to announce that the Corporation has successfully completed 3 Triassic zones in its 100% working interest Clear Prairie well located at 102/15-11-91-12W6M.

The well 102/15-11-91-12W6M was flow tested for 48 hours and produced sweet gas at an initial unstabilized average rate of 1.1 MMcf/day (approximately 180 Boe/day) and sweet oil at an unstabilized average rate of approximately 150 Bbls/day.

The 102/15-11 well represents Javelin's first oil discovery in the Clear Prairie area, where the Corporation's current production is 100% gas.

The well is immediately adjacent to the existing Clear Prairie gas gathering infrastructure and the Corporation plans to have the well tied-in and on production as soon as possible in January 2007.

The 102/15-11 well was drilled to a total depth of 1,341 metres and encountered well log indicated hydrocarbons in six zones. A lower Triassic zone was initially completed in the well 102/15-11-91-12W6M but was unable to produce hydrocarbons at an economic rate.

As announced in its news release of December 20, 2006, Javelin has also successfully drilled and cased a second well on its Clear Prairie property located at 100/10-14-91-12 W6M, which was drilled to a total depth of 1,337 metres and encountered five zones with well log indicated hydrocarbons. It is Javelin's intention to commence completion operations on the 10-14 well within the next seven days. Results from such operations will be reported as they become available.

BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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

Contact Information

  • Javelin Energy Inc.
    Peter Aubrecht
    President and Chief Executive Officer
    (403) 290-0193
    (403) 290-0194 (FAX)
    Javelin Energy Inc.
    Tom Johnson
    Chief Financial Officer
    (403) 560-3262
    (403) 290-0194 (FAX)