RockBridge Resources Inc. (TSX VENTURE:RBE) announces that on February 14, 2011, at 23:30 it spudded its first Pembina Cardium horizontal oil well: AEL HZ Pembina 2- 30-48-3W5M.
The well will have a total vertical depth of 1244 mKB and a horizontal open hole section measuring approximately 1278 meters in length. The well is anticipated to take 18 drilling days. Thereafter the well will be completed employing multiple frac's in the horizontal section, tested and equipped for production.
RockBridge has a 35.7 percent working interest in the well. The operator of the well is Avatar Energy Ltd.
RockBridge's share for the drilling costs, funds for which were raised through the issuance of common and flow-through shares (see press release of December 31, 2010), is $498,257.
RockBridge's President and CEO, Richard Wolfli, stated, "This is the first well to be drilled on the Company's 4.5 gross sections (2.0 net sections) of land holdings in the exciting Pembina Cardium oil play area. The Company has identified 15 possible horizontal well locations on its current landholdings that it intends to develop. In addition the Company anticipates it will continue to add land holdings in the area."
Source: RockBridge Resources Inc.