PetroWorth Resources Inc.

PetroWorth Resources Inc.

June 18, 2008 09:00 ET

PetroWorth: Interim Report on Frac Results at E-08 Well in New Brunswick

CALGARY, ALBERTA--(Marketwire - June 18, 2008) - PetroWorth Resources Inc. (CNQ:PTWR) (FRANKFURT:T3F) today provided the following interim report on the frac results to date at the company's E-08 discovery well in New Brunswick.

The first of the two completed fracs at E-08 flowed back 42 cubic metres out of a total of 103 cubic metres of frac fluid prior to initiating burnable gas flow. The interval flowed gas at a rate building to 260 mcf/day at a wellhead pressure of 87 pounds per square inch over a flow period of 76 hours. A sand plug was then placed over the interval in preparation for the next frac interval.

The frac in the next interval flowed back 68 cubic metres out of a total of 216 cubic metres of frac fluid prior to initiating burnable gas flow. The interval flowed gas at a rate building to 976 mcf/day at a wellhead pressure of 474 pounds per square inch over a flow period of 62 hours.

The fracs of the remaining two intervals at E-08 will be conducted within the next few weeks. Once these fracs are completed, PetroWorth plans to provide final flow results on the basis of each individual interval and as a commingled total of the four intervals.

PetroWorth is currently investigating various alternatives to both short and long term marketing of the potential natural gas production from the E-08 well.

PetroWorth Resources Inc. is a junior oil and gas exploration company with extensive onshore properties in Eastern Canada. The Company has acquired 100% working interests in almost one million acres in nine separate exploration permits on Prince Edward Island, Nova Scotia and New Brunswick. The strategy of the company is to conduct aggressive exploration programs on these permits, both internally generated and through advantageous farm-in arrangements.


Certain statements contained herein constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this report should not be unduly relied upon. The Corporation does not undertake any obligation to publicly update or revise any forward-looking statements. The Corporation has adopted the standard of 6 Mcf:1 BOE when converting natural gas to BOE. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1 BOE is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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