Your browser does not support script
Flash Player is required to play this animation

Last $0.070
Day High $0.070
Day Low $0.070
Volume 9000
Change -0.010
delayed 15-20 min

Subscribe to our e-mail list and stay informed:

Show printable version of 'WellStar Energy Begins Production on Third Virgo Z...' in a New Window

 September 06, 2006
WellStar Energy Begins Production on Third Virgo Zama Well

 WellStar Energy Corp. announced today that production commenced, August 26, 2006, on its third well, 7-22-115-5-W6, at its Virgo Zama project, in northwestern Alberta, as reported by project operator Warburg Resources. The Company's interest is 75% Before Pay Out ("BPO"), and 48.75% After Pay Out ("APO"), subject to a Gross Over-riding Royalty of 15% on gas and a Sliding Scale (1/23, 5%-15%) royalty on oil.

The re-drilled well targeted the Keg River Formation, 70 meters north-west of the original well and encountered and undrained oil reservoir at the new location. Production to September 3, 2006 has averaged 90 barrels per day oil from 169 barrels per day of fluid.

This is the company's third well put into production at the Virgo Zama project. A National Instrument 51-101 compliant reserve report will be released to reflect the Company's increased oil reserves upon completion.

The Virgo-Zama area has been a prolific producer of oil and gas from Devonian Keg River reefs. The Company's prospects are defined by 3D seismic and all proposed wells offset former producers in existing pools. Preparations are currently underway to drill two additional wells at the project by year end 2006.

On Behalf of the Board of Directors,

"Andrew H. Rees"
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.

You can view the Next News Releases item: Wed Oct 11, 2006, WellStar Announces Production Status

You can view the Previous News Releases item: Tue Jul 4, 2006, WellStar Tests Second Well and Completes Drilling its Third Well

You can return to the main News Releases page, or press the Back button on your browser.

Request More Information

Check the type(s) of requests you would like to make
    Add me to your Email List
              Send me information on your financing
    Send me your Investor Package
  First Name: Last Name:
  area code: Phone: