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Shotgun Energy Updates Investors on Its Natural Gas Properties in the U.S. Rockies

Posted on: Monday, 26 November 2007, 09:00 CST

Shotgun Energy Corporation (OTCBB: SGNE) owns an undivided 85% working interest in the giant gas field lease in the prolific natural gas producing Uinta Basin, located in the U.S. Rockies, Utah. The lease comprises 13,189 acres with a potential 4 trillion cubic feet recoverable gas and is over-pressured by a 0.55 - 0.85 gradient.

According to available data in the area, the prospect property has been delineated using several hundred miles of seismic data. The results of the 2D Seismic program which was recently completed will be processed along with available data from a previous Texaco Seismic shoot which will add to the confidence in the interpretation of the data. "We feel the data supports a basin-wide deep gas accumulation covering the entire field," states Robert Klein, President of Shotgun Energy Corporation.

This giant gas lease borders other leases owned by EOG Resources Inc., EnCana Corp., and Bill Barrett Corporation, nearby. Major energy companies today recognize that tight gas reservoirs, where geological formations make production complex, and coal-bed methane, where gas is extracted from coal deposits, are two of the more important near term sources to boost North American production of natural gas as demand outstrips supply and drives up prices.

The U.S. Geological Survey estimated (in 1995) basin-center and deep-basin gas resources in the Rocky Mountain Laramide basins to be 250 TCF. The Drunkards Wash Field, just south of the prospect area, is estimated to be between 2-4 TCF of recoverable gas. The Jonah Field Overpressured Gas Plain, which is analogous to our prospect area, has similar over-pressuring, depth, reservoir rocks and is estimated to be 2.5+ TCF. Several similarities exist between the Elmworth field in Alberta, Canada (one of the most prolific gas fields in North America) and the Company's Uinta Basin Over-pressured Gas Prospect. In addition, Shotgun Energy Corporation has a 0.70% (0.70 of 1%) proportionate, reducible, Gross Overriding Royalty interest in the LAK Ranch Oil Project located in Newcastle, Wyoming. This royalty interest equates to $0.63 per barrel based on a price of $90.00 per barrel for Shotgun.

 /s/ Robert Klein Robert Klein, President 

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Shotgun's filings with the Securities & Exchange Commission.

 For further information contact: 1-888-488-6882 Visit our website at www.shotgunenergy.ws

SOURCE: Shotgun Energy Corporation

Source: MARKET WIRE

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