Stealth Shale Gas Operations Update: Hitting Budget and Production Targets

    SLV tsxventure

    CALGARY, Sept. 26 /CNW/ - Stealth Ventures Ltd. ("Stealth" or the
"Company") is pleased to announce that its production is rapidly growing
beyond its second quarter average of 236 BOE/D, primarily due to tie-in
operations on its current 70 well program at Wildmere, Alberta. Since the
inception of the play in early 2006 Stealth has progressed from a conceptual
technology play to a commercial producing asset, and production growth is now
the focus of the Company.
    The current summer drilling program kicked-off on July 3rd, 2008 and is
currently under the budgeted $350,000 tied-in cost per well, with 42 wells
drilled, 25 completed, and 10 tied-in and producing to date. The Company's
production is today increasing past 2.5MMcf/d (raw) from the field with an
estimated corporate production of 350 (net) BOE/D as of the day of this
release. The Company expects to see strong production growth in the third and
fourth quarters of this year, with the majority of wells tied-in during the
fourth quarter.