NuLoch Resources Inc.

NuLoch Resources Inc.

June 24, 2008 10:04 ET

NuLoch Resources Completes Tableland Well

CALGARY, ALBERTA--(Marketwire - June 24, 2008) - NuLoch Resources Inc. (TSX VENTURE:NLR.A)(TSX VENTURE:NLR.B) has undertaken completion operations on its horizontal well at Tableland, Saskatchewan. The well, located at 14-04 HZ 01-04-001-10W2 has been fracture stimulated in eleven separate stages over its 1,434 metre horizontal length. The fracture stimulation injected load fluid and ceramic proppant at planned volumes, rates and concentrations. The completion operation was conducted on June 20 and June 21. Completion was originally planned for late May but was delayed due to rain and resulting poor surface conditions. Production testing has commenced with meaningful analysis of results expected within 2 to 4 weeks.

The production test result may confirm an extension to a developing light oil resource play in North Dakota pioneered by a large, private, energy company based in the United States and could set up a significant development program in Canada. The horizontal portion of the well was drilled in the Sanish Sandstone of the Devonian Torquay formation at a depth of 2250 m. The Dolomitic Sanish Sandstone is a fractured, low-permeability, oil-saturated unit that lies conformably below the Lower Bakken Shale Member. The Lower Bakken is a fractured, over-pressured, oil-generating source rock.

This is NuLoch's first well at Tableland Saskatchewan and the Company has earned a 70% working interest (before payout) in any production from this well. The Company has now earned working interests ranging from 35% to 50% in the balance of the 51 section farm-in block.

Advisory - Forward-Looking Statements

Certain statements in this document or incorporated herein by reference constitute "forward-looking statements". These forward-looking statements can generally be identified as such because of the context of the statements, including words indicating that the Company "believes", "anticipates", "expects", "plans" or words of a similar nature. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions which will, among other things, impact demand for and market prices of the Company's products; industry capacity; the ability of the Company to implement its business strategy, including exploration and development activities; the ability of the Company to complete its capital programs; successful negotiations with bankers and other third parties; the success of exploration and development activities; production levels; government regulations and the expenditures required to comply with them (especially safety and environmental laws and regulations); asset retirement obligations; and other circumstances affecting revenues and expenses.

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

Contact Information

  • NuLoch Resources Inc.
    R. Glenn Dawson
    President and Chief Executive Officer
    (403) 920-0455
    NuLoch Resources Inc.
    2200, 444 - 5th Avenue SW
    Calgary, Alberta T2P 2T8
    (403) 920-0457 (FAX)