WellStar Energy Corp.
TSX VENTURE : WSE

WellStar Energy Corp.

August 30, 2005 16:28 ET

WellStar Energy Corp.: Virgo-Zama Work to Begin

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 30, 2005) - The Board of Directors of WellStar Energy Corp. (TSX VENTURE:WST) is pleased to announce the commencement of field work on its Virgo-Zama joint venture, with a re-entry program on 13-22-114-6 W6M in northwestern Alberta. The program is scheduled to start August 31, 2005.

The first well in a 4 well program, the re-entry is being conducted to evaluate a Keg River Reef which has produced 249,928 BOE of light oil and gas prior to abandonment in 1989. The operator (Warburg Resources) believes that there may be unperforated bypassed oil pay in the well.

A 3-D seismic program over the reef also indicated that the 13-22 well was drilled on a flank position to the pinnacle reef, which suggests a second well would be needed to drain attic oil.

The balance of 3 wells in the program are to be drilled during the winter drilling season, which commences in December, weather permitting.

WellStar may earn 50% of the operators' interest in the program, net to WellStar, 50% before and 32.5% after payout in 3 prospects and 47.5% before and 30.635% after payout in the fourth prospect.

On Behalf of the Board of Directors

Andrew H. Rees, President, CEO

This News Release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release, which was prepared by management.

Contact Information

  • WellStar Energy Corp.
    Andrew H. Rees
    President, CEO
    (604) 682-3737
    (604) 629-0688 (FAX)