Winslow Resources Inc.

Winslow Resources Inc.

January 12, 2006 15:51 ET

Winslow Announces First Successful CBM Well

CALGARY, ALBERTA--(CCNMatthews - Jan. 12, 2006) - Winslow Resources Inc. (TSX VENTURE:WLR) (Winslow or "the Company") is pleased to announce the results of its first Horseshoe Canyon Coal Bed Methane (CBM) well, located near Chigwell, Alberta. The company-operated well was drilled in November of 2005 and was completed in late December 2005.

The well encountered 16 meters of net coal, of which 15 individual seams were fracture stimulated with nitrogen. Upon completion of the nitrogen frac, the well was flow tested for approximately four days, achieving stabilized static reservoir pressures of 310 kpa and flowing rates of 90 mcf/d. This final recorded rate constitutes 95 per cent methane gas and five per cent nitrogen. Winslow is now reviewing options to tie-in the production.

Winslow has a 100 per cent working interest in the well before payout and a 65 per cent working interest after project payout. Winslow has submitted a holding application seeking government approval to drill an additional three wells on this section.

As a result of drilling the well, the Company earned a 33 per cent interest in an adjoining section and has elected to participate with partners to drill a Horseshoe Canyon CBM test on this adjoining property. The well is anticipated to be spudded prior to the end of January, 2006.

Winslow is a junior oil and gas company engaged in the exploration for and the development and production of natural gas and oil reserves, primarily in the provinces of Alberta and Saskatchewan. Winslow's common shares trade on the TSX Venture Exchange under the symbol "WLR".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Winslow Resources Inc.
    John Nelson
    (403) 355-1175
    Winslow Resources Inc.
    2500, 101 - 6th Avenue S.W.
    Calgary, Alberta T2P 3P4
    (403) 264-6161
    (403) 266-3069 (FAX)