Westside Energy Reports 2.1 MMCFD Test Rate From Hill County Well
February 26 2007 - 8:30AM
PR Newswire (US)
DALLAS, Feb. 26 /PRNewswire-FirstCall/ -- Westside Energy
Corporation (AMEX:WHT), an oil and gas company with operations
focused on the acquisition, exploration, and development of natural
gas in the Barnett Shale play in North Texas, today reported that
the Primula #1H well (WHT 50% WI), the Company's first Hill County
horizontal well, was successfully completed and tested at a gross
initial rate of 2.1 million cubic feet per day from its 1,600'
productive horizontal section. The original well design included a
2,400' productive horizontal section which was reduced due to
unsatisfactory rig performance. It is reasonably assumed that the
additional length would have enhanced the resulting test rate. The
Company's second well in Hill County, the Ellison #1H, has spud and
is designed for a 3,100' horizontal section. Westside's 2007
development activities will be primarily focused on continuing
development activities of joint exploration agreement acreage in
Hill County. In addition, the three remaining drilled and cased
wells in the North Program area, two verticals and one horizontal,
will be completed and put on production. Details regarding 2007
budget activities will be reported in a subsequent press release.
Management Comment Douglas G. Manner, Westside's Chief Executive
Officer stated, "We are very encouraged by the successful frac
stimulation and initial production performance of the Primula well.
With this production test result, as well as test results recently
reported by offset operators in the area, our expectations for
substantial growth and value creation from our Hill County program
have been reinforced. We are currently seeking final approval from
our Board of Directors for an aggressive plan for additional
development activities for the remainder of 2007." About Westside
Energy Corporation Dallas-based Westside Energy is an oil and gas
company focused on exploiting its significant acreage position in
the prolific Barnett Shale trend in North Texas. For more
information about Westside Energy, please visit the Company's
website: http://www.westsideenergy.com/. Forward-Looking Statements
Certain statements in this news release regarding future
expectations, plans for acquisitions and dispositions, oil and gas
reserves, exploration, development, production and pricing may be
regarded as "forward-looking statements" within the meaning of the
Securities Litigation Reform Act. They are subject to various
risks, such as operating hazards, drilling risks, the inherent
uncertainties in interpreting engineering data relating to
underground accumulations of oil and gas, as well as other risks
discussed in detail in the Company's periodic reports and other
documents filed with the SEC. Actual results may vary materially.
DATASOURCE: Westside Energy Corporation CONTACT: Sean J. Austin,
Vice President and CFO of Westside Energy Corporation,
+1-214-522-8990, ext. 1117 Web site: http://www.westsideenergy.com/
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