Lynden Ventures Ltd.
TSX VENTURE : LVL

Lynden Ventures Ltd.

October 20, 2005 19:25 ET

Lynden Reports on Horseshoe Canyon CBM Wells

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 20, 2005) - Lynden Ventures Ltd. (TSX VENTURE:LVL) reports that it has been advised by its joint venture partner, Canadian Spirit Resources Inc. (TSX VENTURES:SPI), that the drilling of four natural gas from coal ("NGC") wells in the Bittern Lake area of central Alberta has been completed.

The first well, 12-06-47-26W4M, was completed in the Horseshoe Canyon formation on October 8, 2005 and produced commercial quantities of natural gas and small amounts of formation water during the initial flow-back period. A downhole pump is currently being installed in order to determine the productive capability of the well. Following a production test of up to thirty days, the well will be shut-in to measure pressure build-up which will assist in the determination of reserves. A further announcement regarding expected production rates from the 12-06 well will be made in late November once the testing of this well is complete.

Based on preliminary results from the 12-06 well, an additional three wells were drilled and cased on the same section. Subject to regulatory approval, these wells will be completed when facilities are available to move the natural gas to market. Gas transportation and electrical power agreements have been signed, with the tie-in of all four wells expected to occur in the first quarter of 2006. The potential for additional drilling is being evaluated.

Lynden is earning a 50% participating interest in the joint venture lands by incurring C$2.5 million of expenditures. Canadian Spirit Resources Inc. is the operator of the joint venture.

ON BEHALF OF THE BOARD OF DIRECTORS

LYNDEN VENTURES LTD.

Colin Watt, President and CEO

WARNING: This news release contains forward-looking information. The reader is cautioned that assumptions used in the preparation of such information, although considered accurate at the time of preparation, may prove incorrect. The actual results may vary materially from the information provided herein. Consequently, there is no representation by Lynden that actual results achieved will be the same as those forecast.


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

Contact Information

  • Lynden Ventures Ltd.
    Colin Watt
    President and CEO
    (604) 684-0561
    (604) 602-9311 (FAX)