LongBow Energy Corp.
TSX VENTURE : LBV

LongBow Energy Corp.

November 02, 2005 09:00 ET

LongBow Energy Corp. Announces Farm-In and Drilling

CALGARY, ALBERTA--(CCNMatthews - Nov. 2, 2005) - LongBow Energy Corp. (TSX VENTURE:LBV) ("LongBow" or the "Company") announces the Company's participation in a farm-in agreement with a private oil and gas company with lands in the Leduc, Alberta area. LongBow is participating in drilling two Mannville wells by paying 20% of costs to tie-in to earn 12% of the well and drilling spacing unit. The first well has been drilled, cased and is being prepared for completion. From interpretation of open hole logs, there are three potential hydrocarbon bearing zones. The drilling rig has moved to drill the second well. LongBow is currently negotiating its participation in an additional 4 new wells in the Leduc area with the same partner.

The Company announces the successful drill and case of its first Coal Bed Methane (CBM) well in the Three Hills area of Alberta. This is the first well drilled on lands acquired earlier this year. Completion and testing of this well will occur during the 4th quarter of this year with tie-in and production to follow. LongBow has paid 50% of the drilling and completion costs on the first well, to earn 25% in the well and three additional spacing units. LongBow will pay 25% of all additional well costs going forward on the associated section of land. LongBow has another three sections of land with earning interests varying between 12.5% and 25% that will be drilled for CBM production over the next few months.

LongBow also announces that it has agreed to drill 7 wells with its partner in the Cold Lake, Alberta area. The drilling program is anticipated to take place during the 4th quarter of 2005 and 1st quarter of 2006. The program will target shallow gas zones on lands that were acquired in the Cold Lake area earlier in 2005 and prior to 2005. LongBow holds up to 20.8% working interest in these lands and has several other wells on production in the same area.

LongBow is a junior oil and natural gas company based in Calgary, Alberta with core natural gas and oil properties located in Alberta at Cold Lake, Garrington, Three Hills, Leahurst, and Leduc.

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

Contact Information

  • LongBow Energy Corp.
    Tamara Yourth
    (403) 264-4722
    (403) 269-5518 (FAX)