Thunderbird Energy Corp.

Thunderbird Energy Corp.

October 09, 2012 09:01 ET

Thunderbird Energy Corp.: Gordon Creek Completion Program Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2012) - Thunderbird Energy Corp. (TSX VENTURE:TBD)(OTCBB:TBDYF) (the "Company") today announced that it has completed the fracture stimulation phase of the eight well Gordon Creek 2012 fall completion program. The Company is pleased with the execution of the frac program, which was carried out on time and on budget in accordance with Thunderbird's design specifications. The Company expects to be in a position to assess initial gas flow rates once the wells are tied in to production, residual frac fluids have been recovered and the well de-watering process has begun.

The completion program has been carried out in parallel with the design and installation of important new Gordon Creek infrastructure that will facilitate the current completion program, as well as substantial future expansion at Gordon Creek. These activities have included:

  • The design, fabrication and installation of a 350 KW natural gas generation (350KW diesel backup) facility which is designed to provide sufficient capacity to power up to 20 fully loaded pumpjack equipped wells. The generation facility includes a load management system that allows for the addition of 2 more 350 KW natural gas generators. It is anticipated that over time with normal dewatering of the wells, a 350 KW generator will be able to service up to 50 pumping wells.
  • Upgrading the Gordon Creek compressor facility to increase the existing compression capacity to roughly 10 mmcf per day. The compression facility is designed to permit further scalability as production grows.
  • Sourcing and acquiring pump jacks, separators and related surface equipment in order to service the current completion program and the next round of drilling.
  • The construction of access roads, underground pipelines and wiring conduits necessary to tie in the recently completed 8 wells.

At this stage, most of the materials are at the site, the construction tenders have been awarded and the construction of underground pipelining, and electric cable is well underway. The current schedule is to commence production from all 8 new wells and complete the entire field electrification by the end of October.

Thunderbird Energy is a Canadian-based oil and gas exploration and production Company with interests in the US Rockies and mid-continent regions.


Caution Regarding Forward-looking information

Information in this news release respecting anticipated petroleum and natural gas production, as well as the Company's proposed development operations constitutes forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, expectations, or beliefs as to future events or results are believed to be reasonable based on the information currently available to the Company. The Company does not undertake to update any such forward-looking statements unless required by applicable securities legislation.

Statements including forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company and its operations to be materially different from estimated costs or results expressed or implied by such forward-looking statements.

There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

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

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