Lynden Energy Corp.

Lynden Energy Corp.

January 25, 2010 09:00 ET

Lynden Energy Corp.: West Texas Wolfberry Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 25, 2010) - Lynden Energy Corp. (TSX VENTURE:LVL) reports that the recently tied-in Harrell 34 #1, the Company's first Wolfberry well, has produced an average of 138 barrels of oil and 277,000 cubic feet of gas per day over the first fourteen days of production. Preliminary results for the Harrell 34 #1 exceed the range of expectations for a typical Wolfberry well. The ultimate productive capability of the well remains unknown at this time.

In addition, Miller Trust #101, the Company's second Wolfberry well, has been drilled to a total depth of 10,404 feet and is currently being cased and logged. Due to conditions in the hole, it was not possible to drill to the original target depth of approximately 11,400 feet to test two of the well's deeper targets. The well was, however, drilled through the Spraberry and Wolfcamp formations, the two zones which typically comprise a Wolfberry well. The Miller Trust #101 is scheduled for fracture stimulation in the second week of February.

The Mallard 23 #2, the Company's third Wolfberry well, has been drilled to a total depth of 10,415 feet, and is currently being cased and logged. The Mallard 23 #2 is scheduled for fracture stimulation in the third week of February.

The Company's fourth Wolfberry well, the Roy 1, is scheduled to be spudded in the second week of February. Lynden is earning a 43.75% interest in the Harrell 34 #1, Miller Trust #101, Mallard 23 #2, and Roy 1 by funding 50% of the cost of the wells.

Wolfberry wells primarily target oil (and gas) production from the Spraberry and Wolfcamp formations, which are of Permian age and informally grouped to form the "Wolfberry" interval or zone. Secondary targets are also being evaluated for completion as part of Lynden's Wolfberry Project. Typical Wolfberry wells involve completions over a 2,500 to 3,000 foot gross interval, generally located between 7,000 and 10,500 feet, drilling depth.

The Wolfberry Project covers approximately 13,300 gross (12,063 net) acres in Glasscock, Howard, Martin, Midland, and Sterling counties of West Texas. Lynden's interest in the project ranges from 21.875% to 47.5%. The leases are contained within five prospect areas around which five areas of mutual interest ("AMI") have been established.

The Wolfberry Project is operated by CrownQuest Operating LLC of Midland, Texas, an operator with extensive knowledge and experience in operating in West Texas. In the last two years, CrownQuest has drilled or participated in over 40 new wells where the completion techniques associated with Wolfberry wells have been successfully applied in areas adjacent, or in proximity, to the AMIs.



Colin Watt, President and CEO

FORWARD-LOOKING STATEMENTS DISCLAIMER: This news release contains forward-looking statements. The reader is cautioned that assumptions used in the preparation of such statements, although considered accurate at the time of preparation, may prove incorrect, and the actual results may vary materially from the statements made herein. Actual intervals selected for completion and number of fracture stimulation stages will be determined based on information available at the time the completions are initiated. Expected timelines relating to oil and gas operations are subject to the customary risks of the oil and gas industry.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Lynden Energy Corp.
    Colin Watt
    President and CEO
    (604) 629-2991
    (604) 602-9311 (FAX)