DALLAS, June 5 /PRNewswire-FirstCall/ -- Westside Energy Corporation (AMEX:WHT), an oil and gas company with operations focused on the exploration and development of natural gas in the Barnett Shale play, today reported that the Smith #2 vertical well (WHT 61.5% WI), in Cooke County (North Program area), was successfully completed and tested at a gross initial rate of 350 BO/D and 360 MCF/D (2.5 MMCFE/D) on a 22/64 inch choke. The well continues to unload completion fluid. Westside anticipates that the choke will be opened further after the initial surge of fluid is recovered. As reported previously, gas production in this area averages over 1,200 BTU/CF.
The Company's third well in Hill County, the Primula #2H (WHT 50% WI), is currently in the drilling phase. The Primula #2H is the first of the eight-well drilling program budgeted for the remainder of 2007 in Hill County.
Westside's 2007 development activities continue to be primarily focused on continuing development activities of joint exploration agreement acreage in Hill County.
Management Comment Douglas G. Manner, Westside's Chief Executive Officer stated, "The Smith #2 represents another data point supporting our strategy of drilling near the Muenster Arch in the eastern portion of our acreage position in the North Program area. There are a number of additional locations to be drilled. Our current plans are to continue to observe the performance of the North Program wells while we focus our efforts on Hill and Ellis counties for the remainder of 2007. In the meantime, we will be formulating a drilling program to continue development of our North Program area acreage in 2008." 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/
|