Drilling Operations Started at DJ-Basin Wattenberg Field

- Drilling Operations Started at DJ-Basin Wattenberg Field

Wednesday, August 17, 2011
Synergy Resources Corp.

Synergy provided an operating update on its previously announced Pratt drilling program and has also begun drilling operations on the DeClar Oil & Gas farm-in acreage in the Wattenberg Field.

Synergy has successfully completed and reported initial production rates on three of its Pratt wells. Initial production rates on the three wells include the following:

• The Pratt 24-29D Codell formation had an initial production rate that totaled 129 barrels of oil, 374 thousand cubic feet of natural gas and 66 barrels of water in the 24 hour period.
• The Pratt 14-29D Codell formation had an initial production rate of 136 barrels of oil, 439 thousand cubic feet of natural gas and 66 barrels of water in the initial 24-hour period.
• Pratt 13-29D J Sand formation produced 238 thousand cubic feet of natural gas in the initial 11 hour period.

Craig Rasmuson, Head of Field Operations for Synergy Resources, said, "These initial results, combined with our previous successes in the play, are encouraging. Management believes that the Company's inventory of low-cost, prospects will bode well for the Company. We anticipate placing the remaining five wells onto the sales pipeline before the month's end. Regarding Pratt 13-29D, we will continue to produce in the J-Sand formation until we capture the incremental drilling costs, at which time, we'll move up-pipe to produce the Codell formation and book the subsequent reserves."

On the DeClar Oil & Gas farm-in acreage, announced earlier this month, the company has drilled two wells and is presently drilling the third well of its six (directional) wells to be drilled. The wells are targeting the J Sand, Codell and Niobrara Formations in the oily and liquid-rich region of the Wattenberg Field. All six wells are on schedule to be drilled by mid-September.

Synergy continues to grow its acreage, the majority of which is located in the DJ-Basin. As of August 12, 2011, Synergy Resources has approximately 170,000 gross acres and 149,000 net acres under lease.

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Drilling Started at Kea's Well in Surat Basin

- Drilling Started at Kea's Well in Surat Basin

Tuesday, June 28, 2011
Kea Petroleum plc

Kea Petroleum announced that the Hoadleys-1 exploration well in the ATP837P license area in Australia's onshore Surat Basin was spudded on June 25, 2011, and has already run and set surface casing to 254m.

It is anticipated that the well will be drilled to a total depth of 2,200m by late July 2011, and will test for oil in the Lower Evergreen and Precipice Sands. Both of these targets are producers in the nearby Moonie oil field.

In the event of success Kea's gross median reserve estimate is approximately one million barrels, with a potential upside of up to several million barrels.

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Drilling Started at Cooper's Parsons-5 Well

- Drilling Started at Cooper's Parsons-5 Well

Monday, June 27, 2011
Cooper Energy Ltd.

Cooper announced that the Parsons-5 appraisal/development well in PEL92 spudded at 3:00 am Friday, June 24, 2011. PEL92 lies in the north of South Australia on the western margin of the Cooper Basin. The current operation is drilling the surface hole.

Parsons-5 is targeting the Namur oil reservoir and is to be located 2.1 km to the north of the Perlubie-1 and 1.1 km to the south of Parsons-4 discovery wells. The well will be drilled to a total depth of about 1,358 meters and is expected to take approximately 8 days to drill and complete.

The Parsons South oil field is currently producing about 50 barrels of oil per day from the Parsons-2 discovery well in the Namur reservoir. Parsons-5 will be drilled at the crest of the mapped structure of the field. The well is expected to more efficiently develop the field and accelerate production.

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