West Hawk Development Corp.: Figure Four Natural Gas Project Update
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Jul 24, 2008 08:44AM
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West Hawk Development Corp.: Figure Four Natural Gas Project Update
DENVER, COLORADO, Jul 24, 2008 (Marketwire via COMTEX News Network) --
West Hawk Development Corp. (TSX VENTURE:WHD)(FRANKFURT:H5N) (the "Company") is pleased to provide an update on the Piceance Basin Figure Four Ranch Natural Gas Project.
West Hawk Development Corp. (WHD) recently hired New Tech Engineering to help manage the Figure Four Natural Gas Project for West Hawk Energy, U.S.A., LLC. New Tech Engineering is based in Houston, Texas, but the management of the gas project will be provided out of their Denver, Colorado office which is responsible for the Rocky Mountain Region. New Tech is an engineering and operating company that is focused in the oil and gas industry. New Tech Engineering will use their vast experience in the Piceance Basin to maximize production on all of the wells and maximize efficiency for the entire project. They are designing and implementing the drilling plan for West Hawk's 2008 drilling program. New Tech has 100 technical engineering and operating personnel based in the western U.S. They have great experience and knowledge of the Piceance Basin. Most all of New Tech's personal have experience dealing with the tight gas that is typical of the basin. West Hawk has also hired Robert Young, PH.D. to serve as a consulting geologist for the project. Dr. Young has more than 40 years of experience in the gas fields of the Piceance Basin. Mr. Young is considered an expert in Piceance Basin gas and oil.
The Rockies Express Pipeline went in to operation during the months of January and February 2008. The ability to transport natural gas to a larger market has resulted in a significant price increase for Colorado's natural gas.
Wells 3 and 4 stimulated zones were tested. The swabbing was preformed based on a zone isolation program established by Schlumberger. The zone isolation program was created to determine the location of the zones that are producing water, so that these zones can be isolated in order to maximize gas production. Water samples were analyzed by Schlumberger to determine water, gas and oil composition. These wells have been intermittently producing gas, water and oil during the swabbing process. Based on the outcome of this program New Tech Engineering is designing and implementing a plan to have steady gas flow production from wells 3 and 4.
Wells 1 and 2 continue to perform as statistically forecasted by Schlumberger's pre-frac design, though New Tech Engineering intends to evaluate the wells in order to determine the most effective means for increasing gas sales and production consistency.
New Tech Engineering and West Hawk Energy, U.S.A., LLC have finalized their plan for the 2008 drilling program. They have commissioned two rigs to implement the 2008 drilling program and WHD has just completed raising the money for the implementation of the 2008 drilling program. West Hawk intends to drill to at least the Niobrara formation during this drilling process, please see the Niobrara report on the WHD web site (www.westhawkdevelopment.com). WHE is currently proceeding with the 2008 drilling operations.
"West Hawk has great confidence in New Tech Engineering and their ability to provide productive solutions for the gas project. We are also very happy to have Dr. Young working with us on the project. His extensive career provides vast insight in to our future drilling program," said Mr. Gonzalo Torres-Macchiavello, President & CEO of the Americas.
On behalf of the Board of Directors,
Wm. Mark Hart, President and Chief Executive Officer
About the Company: West Hawk Development Corp. is focused on providing valuable, high-demand energy products from a variety of sources. Assets include the Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement; the Groundhog coal property located in northwest British Columbia; the Tulita coal property located in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal property.
Cautionary Note: This news release contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specially noted, are considered speculative. The Company has filed a National Instrument 51-101 Report on the Figure Four property. The Company has filed National Instrument 43-101 Reports for each of the Groundhog coal property in British Columbia, the Tulita coal property in the Northwest Territories, and the Nunavut coal property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration and development activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
SOURCE: West Hawk Development Corp.
West Hawk Development Corp. Wm. Mark Hart President and Chief Executive Officer 1-800-830-0988 Website: www.westhawkdevelopment.com
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