Marksmen Resources Ltd.

Marksmen Resources Ltd.

March 28, 2006 18:06 ET

Marksmen Resources Ltd.: Drilling Commences at First of Two Ferrier Locations

CALGARY, ALBERTA--(CCNMatthews - March 28, 2006) - Marksmen Resources Ltd. (TSX VENTURE:MA) ("the Company or Marksmen") is pleased to announce that field operations are currently underway at three of its project areas including Ferrier, Eastmont and Namao South.


Marksmen reports that the first of two wells at the Company's Ferrier project spud over the weekend. Marksmen is participating, along with the Farmor, in a 2,400 metre development test targeting the Cardium Burnstick reservoir trend in the area. The well offsets nearby production from the same target formations and is expected to reach total depth in about 15 days. Intial flow-rates from these formations can be up to 2.0 mmcf per day. The Company will pay 20% of certain drilling costs to earn a 14.6% working interest in the drilling spacing unit (one section) as well as a 9.6% working interest in an adjacent section.

After drilling is completed on the first Ferrier location, the plans are to utilize the drilling rig to drill a 2,900 metre multi-zone exploratory test at a second Ferrier location. The primary targets of this well are the Ostracod and Ellerslie formations which have the potential to produce at up to 2.5 mmcf per day. Marksmen will pay 25% of certain drilling costs to earn a 16% working interest in the drilled spacing unit (one section) and an option to earn a similar interest in a follow-up development location on an adjacent section. In the event that the current drilling rig cannot be used to drill the second location at Ferrier, the spud date will be delayed until after break-up. Depending on the degree of success realized by the first two wells, up to two follow-up development locations could be drilled later in the year. The Ferrier project has the potential to significantly grow the Company's production over the short term.


At Marksmen's Eastmont project, the recently drilled 2,400 metre test located at 3-26-11-27W4 was cased as a potential multi zone gas well in the Glauconite and Sunburst formations. Completion operations are currently being planned and it is expected that results will be available within the next month. Marksmen's well is located approximately one half mile from a recently tied-in well that is currently producing at a combined rate of about 2.4 mmcf per day from the same formations encountered in the 3-26 well. Plans are underway to drill a follow-up well immediately after break-up. Marksmen has a 10% working interest in the Eastmont project which has the potential to more than double the Company's current production and reserves.

Namao South

At the Company's Namao South project in central Alberta, most of the approvals have been received to allow for the tie-in of the recently drilled well at 13-22-54-25W4. As previously announced, this well encountered approximately 8 metres of net pay in the Ellerslie formation. Based on recent completion results, Marksmen anticipates an initial gross flow rate in the range of 450 to 600 mcf/d or up to 25 boe/d net to the Company's interest. Well site equipment is currently on order with an anticipated on-stream target date of June 1st. A follow-up location, approximately a mile from the 13-22 well, has been identified on Company lands with a planned spud date later in the year.


Since October 11, 2005 when the mineral properties spinout was completed, Marksmen has realized a 100% drilling success rate with three wells successfully drilled at Nottingham in southeast Saskatchewan, and at Namao South, and Eastmont in Alberta. In addition, Marksmen has added four new project areas to its drilling inventory including Ferrier, Kaybob South, Evi, and Eastmont.

Including the two Ferrier wells described above, Marksmen has committed to participate in eight (8) wells with a possible eight (8) additional follow-up wells to be drilled prior to year end. The Company expects that most of this activity will occur in the second and third quarters, with the potential follow-up locations to be drilled later in the year and the first quarter of 2007. The current drilling inventory comprises low risk development drilling at the Company's Nottingham (light oil) and Innes West (light oil) properties in southeast Saskatchewan, and the Namao South (natural gas) project in Alberta, and high impact projects at Ferrier (natural gas), Eastmont (natural gas), Kaybob South (light oil), and Evi (light oil) in Alberta.

On behalf of the Board of Directors

"Peter Malenica"

Peter Malenica
President & CEO, Director

Statements in this press release may contain forward-looking statements. Except for statements of historical fact, all statements in this press release - including, without limitation, statements regarding future plans and objectives of the Company - are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements

References herein to "boe" mean barrels of oil equivalent derived by converting gas to oil in the ratio of six thousand cubic feet (Mcf) of gas to one barrel (bbl) of oil. Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based on an energy 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.

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