The first of 3 new wells in Texas has now started.
Portrush Petroleum Corporation (TSX-V:PSH, OTCBB:PRRPF) (http://www.portrushpetroleum.com)
VANCOUVER, British Columbia (Business Wire) -- Portrush wishes to announce that the operator has commenced drilling the first of three additional wells in the Mission River Texas Field.
The Scanio/Shelton Well No. 14 was spudded late last week and has reached a depth of 4,655 feet.
The last 4 wells drilled were all successful and new pay zones were found that have not been previously produced in the Field. Each new well is located to develop the newly discovered Lower Frio formations but will also be positioned to develop the proven Upper Vicksburg (8,000' to 8,500')
The cumulative production from the twelve (12) successful wells drilled in the Mission River field is 1.824 BCF of Gas and 50,040 barrels of oil since 2004.
The two additional wells will be drilled after the first well is drilled, logged and tested. Preliminary operations have begun in preparing the wellsite for wells number 13 and 15.
Drilling at the Portrush et al #2, Moore 6-12-III well on its Waubuno property in Moore (St. Clair) Township, Lambton County, Southwestern Ontario is continuing and is anticipated to reach total depth by the last week of November. Portrush holds a 65% working interest in the project.
Portrush has completed the private placement of 333,500 units originally announced October 31, 2008. The units, comprised of a share and a $0.10 share purchase warrant expiring November 17, 2010 (and the 18,667 finder's fee shares), are subject to a four month hold period that expires on March 18, 2009.
About Portrush Petroleum Corporation:
To find out more about Portrush Petroleum Corporation visit our website at www.portrushpetroleum.com
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
ON BEHALF OF THE BOARD
Mr. Martin Cotter, President & Director
