PSH-....'' Scanio-Shelton # 8 is placed on production``
in response to
by
posted on
Jan 29, 2008 12:25PM
Oil & Gas Company
Scanio-Shelton # 8 is placed on production
Vancouver, British Columbia CANADA, January 29, 2008 /FSC/ - Portrush Petroleum Corporation (PSH - TSX Venture, PRRPF - OTCBB), wishes to provide an update regarding its continuing operations on the Scanio/Sheldon No.8 well in the Mission River property in Texas. The well has been drilled to a total depth of 8,600 feet and has been placed on production at an initial rate of half a million cubic feet of gas a day and approximately seventy five barrels of oil a day.
The well was the first well of a four well drilling project and the next location is under construction. It is intended to drill the next well as soon as a drilling rig comes available.
Preliminary production results, together with an in-depth analysis of log data obtained from the well suggest that the reserves are both oil and gas. The well has been placed on production without an upgrade to the existing facilities. A final interpretation of the overall hydrocarbon column encountered, and hence estimated reservoir volumes and a full analysis of all the log data and fluid sampling recovered from the well is currently being undertaken.
The Mission River lease is operated by McAlester and is located at the south end of the town of Refugio, Refugio County, Texas. The field has multiple pays at depths ranging from 2,000 to 8,500 feet. Portrush has a 10% working interest in the field. A further announcement will be made in due course regarding the additional drilling and any updates on the production rates
The Company has received a proposal to shoot a 3D seismic survey on the pinnacle reef prospect in Moore township, Lambton County, Southwestern Ontario The prospect is located on trend and mid-point between two pinnacle reef gas storage pools, Kimball Colinville and Waubuno.
About Portrush Petroleum Corporation:
To find out more about Portrush Petroleum Corporation visit our website at www.portrushpetroleum.com
ON BEHALF OF THE BOARD
Mr. Martin Cotter, President & Director
CONTACT INFORMATION
Corporate
Mr. Linsday Malcolm
Telephone 866 939 2555:
info@portrushpetroleum.com