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RLK
PR NEWSWIRE) Torrent Drilling Update on Westport and Chehalis Project Areas
Torrent Drilling Update on Westport and Chehalis Project Areas
SEATTLE, Dec. 21 /PRNewswire-FirstCall/ -- Torrent Energy Corporation (the
"Company") (OTC Bulletin Board: TREN) is pleased to announce the following
developments from its wholly owned operating subsidiaries, Methane Energy
Corp. ("Methane") and Cascadia Energy Corp. (Cascadia).
Methane is progressing with its Westport drilling program and to date has
successfully drilled five wells, MEC 9-21-26-13, MEC 1-21-26-13, MEC 15-21-26-
13, MEC 16-16-26-13 and MEC 13-15-26-13. All wells were logged and cased and
each has encountered numerous gassy coal seams consistent with the wells'
individual geological prognosis. On December 9, 2006, completion operations
commenced on the MEC 13-15 and MEC 15-21 and each well was perforated over the
total coal package in each well then shut-in for pressure build-up.
Planned operations are to perforate the coal seams in the remaining 3
wells during the first week of January followed up with injection fall-off
testing on all five wells. The technical information gathered from this
testing program will be utilized to design appropriate proppant stimulations
anticipated to occur in March when equipment becomes available to us.
Injectivity testing will also occur on several of these wells in a
fractured basalt section to determine suitability for use as a water disposal
zone.
Drilling operations have been put on hold at this time to allow us to
properly assess the potential of the initial five Westport wells. The Roll'n
Rig #14 has been racked locally in Coos Bay and remains available for future
work. However, the Methane Operations team has determined that a smaller rig
would be more appropriate to drill the remaining wells in the program,
therefore requests for bids have been issued and we expect to identify and
engage a new drilling contractor early in January. Currently it appears there
is better rig availability in the North American petroleum industry and we
have identified a number of smaller, more efficient rig types which will allow
us to drill the remaining wells faster and for less cost.
Cascade has now identified its initial drilling prospects in the Chehalis
basin in the State of Washington and has filed the appropriate drilling
permits for the initial three wells. Approvals and commencement of drilling
operations is expected to occur in the first quarter of 2007.
Torrent's President & CEO, John Carlson, states, "We appreciate the
assistance Roll'n Oilfield Services provided since the inception of our
drilling program in Coos Bay. It allowed us to drill wells during an
overheated period of activity in the North American petroleum industry when
rig availability was limited. However, it is time to utilize more modern and
efficient equipment specifically designed to drill coalbed methane wells less
than 3,000 feet in depth. We anticipate an overall reduction in our drilling
related capital expenditure ultimately reducing our finding and developing
costs and improving the project rates of return."
About Torrent Energy Corporation
Torrent Energy Corporation is a growing exploration company focusing on
developing non-conventional natural gas reserves in the Northwestern United
States. The Company's primary objective is to create value for stakeholders
by applying strong technical expertise to projects. The current focus of the
Company's Oregon subsidiary, Methane Energy Corp., is on the exploration of
the Coos Bay Basin project in southwestern Oregon where the Company currently
has a land portfolio that includes over 116,000 acres of prospective land. The
Company's Washington subsidiary, Cascadia Energy, is focused on two projects
in southwestern Washington State where it holds substantial lease and lease
option commitments. For more information please visit www.torrentenergy.com.
On behalf of the Board of Directors,
TORRENT ENERGY CORPORATION
John Carlson, President & CEO
PR NEWSWIRE) Torrent Drilling Update on Westport and Chehalis Project Areas
Torrent Drilling Update on Westport and Chehalis Project Areas
SEATTLE, Dec. 21 /PRNewswire-FirstCall/ -- Torrent Energy Corporation (the
"Company") (OTC Bulletin Board: TREN) is pleased to announce the following
developments from its wholly owned operating subsidiaries, Methane Energy
Corp. ("Methane") and Cascadia Energy Corp. (Cascadia).
Methane is progressing with its Westport drilling program and to date has
successfully drilled five wells, MEC 9-21-26-13, MEC 1-21-26-13, MEC 15-21-26-
13, MEC 16-16-26-13 and MEC 13-15-26-13. All wells were logged and cased and
each has encountered numerous gassy coal seams consistent with the wells'
individual geological prognosis. On December 9, 2006, completion operations
commenced on the MEC 13-15 and MEC 15-21 and each well was perforated over the
total coal package in each well then shut-in for pressure build-up.
Planned operations are to perforate the coal seams in the remaining 3
wells during the first week of January followed up with injection fall-off
testing on all five wells. The technical information gathered from this
testing program will be utilized to design appropriate proppant stimulations
anticipated to occur in March when equipment becomes available to us.
Injectivity testing will also occur on several of these wells in a
fractured basalt section to determine suitability for use as a water disposal
zone.
Drilling operations have been put on hold at this time to allow us to
properly assess the potential of the initial five Westport wells. The Roll'n
Rig #14 has been racked locally in Coos Bay and remains available for future
work. However, the Methane Operations team has determined that a smaller rig
would be more appropriate to drill the remaining wells in the program,
therefore requests for bids have been issued and we expect to identify and
engage a new drilling contractor early in January. Currently it appears there
is better rig availability in the North American petroleum industry and we
have identified a number of smaller, more efficient rig types which will allow
us to drill the remaining wells faster and for less cost.
Cascade has now identified its initial drilling prospects in the Chehalis
basin in the State of Washington and has filed the appropriate drilling
permits for the initial three wells. Approvals and commencement of drilling
operations is expected to occur in the first quarter of 2007.
Torrent's President & CEO, John Carlson, states, "We appreciate the
assistance Roll'n Oilfield Services provided since the inception of our
drilling program in Coos Bay. It allowed us to drill wells during an
overheated period of activity in the North American petroleum industry when
rig availability was limited. However, it is time to utilize more modern and
efficient equipment specifically designed to drill coalbed methane wells less
than 3,000 feet in depth. We anticipate an overall reduction in our drilling
related capital expenditure ultimately reducing our finding and developing
costs and improving the project rates of return."
About Torrent Energy Corporation
Torrent Energy Corporation is a growing exploration company focusing on
developing non-conventional natural gas reserves in the Northwestern United
States. The Company's primary objective is to create value for stakeholders
by applying strong technical expertise to projects. The current focus of the
Company's Oregon subsidiary, Methane Energy Corp., is on the exploration of
the Coos Bay Basin project in southwestern Oregon where the Company currently
has a land portfolio that includes over 116,000 acres of prospective land. The
Company's Washington subsidiary, Cascadia Energy, is focused on two projects
in southwestern Washington State where it holds substantial lease and lease
option commitments. For more information please visit www.torrentenergy.com.
On behalf of the Board of Directors,
TORRENT ENERGY CORPORATION
John Carlson, President & CEO
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