Cinch Energy Corp. announces a significant Wabamun gas discovery in the Dawson area of British Columbia. The Cinch operated Dawson well 6- 30-80-15W6M drilled to a total depth of 3,673 meters was completed with the drilling rig and flowed at rates over 20 mmcf/d (gross) during an initial 3 hour flow period after acidization. Pressure recorders have been installed and the Company intends to conduct flow tests to further evaluate well productivity.
Initial indications are that the gas has a low acid content with less than 15 parts per million H2S and 5% CO2, consistent with other Wabamun production in the area, which should allow the gas to be brought on stream with relatively simple conventional facilities. Tie-in options and timing are currently being evaluated.
Based on 3D seismic there may be 3 additional locations on this feature and current plans are to move the drilling rig to 7-25-80-16W6M once completion operations are finished and the new lease is constructed. Cinch has a 65% working interest and is the operator of this well and follow up locations.
Cinch Energy Corp. is a junior conventional oil and gas company with core assets in West Central Alberta and North East British Columbia. Cinch plans to grow to become a leading intermediate sized producer through a combination of exploration and development drilling combined with strategic property and corporate acquisitions.
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