PetroWorth Resources Inc.

PetroWorth Resources Inc.

November 26, 2007 09:24 ET

PetroWorth Provides Progress Report on the Drilling of Feenan #2 in New Brunswick

CALGARY, ALBERTA--(Marketwire - Nov. 26, 2007) - PetroWorth Resources Inc. (CNQ:PTWR) (FRANKFURT:T3F) provides the following progress report on the drilling of the Feenan #2 well in Albert County, New Brunswick.

PetroWorth is currently drilling Feenan #2 below 1022 meters on mud. The interval between 391 meters and 1022 meters was successfully drilled on air and a significant sustained open flow of gas was experienced from two zones within the Hiram Brook Formation.

Feenan #2 will be drilled to a total depth of 1600 meters and there is potential for additional gas and/or oil zones in the Fredericks Brook and Dawson Settlement Formations. The well is expected to reach total depth by the end of the week at which time a thorough electrical log evaluation will be conducted.

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.

Contact Information

  • PetroWorth Resources Inc.
    Neal Mednick
    (416) 214-1551 or Cell: (416) 432-0362