SkyWest Energy Corp.
TSX VENTURE : SKW

SkyWest Energy Corp.

November 15, 2010 09:44 ET

SkyWest Provides Update on 3rd Cardium Horizontal Well

CALGARY, ALBERTA--(Marketwire - Nov. 15, 2010) - SkyWest Energy Corp. (TSX VENTURE:SKW) ("SkyWest" or the "Company") is pleased to report the results of its 3rdCardium horizontal well in the Willesden Green area of Alberta.

The well was successfully stimulated with a 13–stage frac treatment and flowed on clean-up for approximately 75 hours. Over a subsequent 48 hour production test, the well flowed at 393 barrels of combined oil, condensate, and natural gas liquids per day and 3.56MMcf/d of natural gas for a combined production rate of 985 BOE per day. To date approximately 62% of the load oil has been recovered. The well is expected to commence production in December, 2010. The Company has a 100.00% working interest in this well.

Successful completion operations have also just concluded on SkyWest's 4th well and the well is currently flowing back. SkyWest is also drilling its 5th and 6thCardium horizontal wells in the Carrot Creek and Pembina areas which are expected to be completed in November and December, 2010.SkyWest has 2 drilling rigs contracted until the end of the year to accelerate its drilling program.

SkyWest Energy Corp. is a Cardium focused exploration and production Company based in Calgary, Alberta, Canada.

Statements herein that are not historical facts may be considered forward looking statements including management's assessment of future plans and operations, growth expectations within the Corporation, expected initial production rates from certain new wells, timing of completion of wells and of production additions, expected size of various plays, construction or expansion of facilities and the timing thereof and expected costs and the effects thereof, drilling plans and the effects thereof.

Readers are cautioned that the foregoing list of factors and assumptions is not exhaustive. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and SkyWest does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

BOEs

Disclosure provided herein in respect of barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • SkyWest Energy Corp.
    Lawrence D. Urichuk
    President & CEO
    403-265-0071 ext. 201
    or
    SkyWest Energy Corp.
    Joel MacLeod
    Vice President, Finance & CFO
    403-265-0071 ext. 203