Sun River Energy, Inc. Completes Drilling First of Two Coal Bed Methane Wells on New Mexico Lease
Sun River Energy, Inc. (OTCBB: SNRV) announces that it has reached total depth on its Myers #2 coal bed methane well in New Mexico, penetrating multiple thin coal seams interlaced with sandstone and shale lenses which is what was expected upon drilling this well. The well encountered some water, which was also expected, but which is positive for having sealed gas in place preventing prior desorption. The company is casing and logging the well and expects to frac the well in the future. Prior to logging, the well built up gas pressure which had to be bled off.
This well will be followed by a second well on the adjacent 160 acres to the east, to be commenced immediately.
Sun River President, Wesley Whiting, stated, “We believe that finding this methane is significant to a reserve calculation and may be indicative of what we will find across our other ten thousand acres of coal bed prospects in the area. While we cannot make any reserve calculations at this point, we believe, based upon state data production from coal bed wells to the north and west, that we can expect significant gas production after dewatering. Remember, Evergreen Resources (acquired by Pioneer) built a substantial and successful company on coal bed methane production in the Colorado area northwest of Sun River’s acreage.”
Sun River believes the results of this well to be very significant to a positive future of the company and its shareholders.
About Sun River Energy, Inc.
Sun River Energy, Inc., a development stage company, engaged in the exploration and development of oil and gas properties in the United States. Sun River Energy’s objective is to seek out and develop opportunities in the Oil and Natural Gas sectors that represent a low risk opportunity. As well, Sun River aims to define larger projects that can be developed with joint venture partners. Sun River is confident that these viable opportunities exist in a sector that holds long-term fundamental growth opportunities.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications which may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above.
Contact: Sun River Energy, Inc. Steve Naremore Investor Relations 1-409-770-0071 www.sunriverenergy.com
SOURCE: Sun River Energy, Inc.
