Javelin Energy Inc.
TSX VENTURE : JAV

Javelin Energy Inc.

March 27, 2007 12:10 ET

Javelin Energy Inc. Announces an Update on Its Operations and Production for the Clear Prairie Field

CALGARY, ALBERTA--(CCNMatthews - March 27, 2007) - JAVELIN ENERGY INC. (TSX VENTURE:JAV) ("Javelin" or the "Corporation") is pleased to announce an update on its production guidance and winter drilling program.

OPERATIONS AND PRODUCTION UPDATE

Javelin is pleased to announce that compression installation and facility modifications in the Clear Prairie Field have been completed. Production from the Clear Prairie Field has increased to approximately 650 Boe/day. Javelin has received all regulatory approvals for the construction of a permanent access road which will allow year round access to the Clear Prairie Field. The Corporation has begun construction of the year round access road which will allow for the installation of oil production and water disposal facilities in the Clear Prairie Field. The installation of such facilities will allow Javelin to develop and produce the Triassic oil reserves from the Clear Prairie Field that are currently behind pipe.

Petroleum and natural gas volumes are converted to a common unit of measure on a basis of six thousand cubic feet (Mcf) of gas to one barrel (Bbl) of oil. Boes may be misleading, particularly if used in isolation. The foregoing conversion ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

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

Contact Information

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