Talisman Energy Inc. Montney Vertical Well Tests 4 mmcf/d -
Bordering CSRI Montney Formation Lands
Canadian Spirit Resources Inc. (“CSRI” or the “Company”) is pleased to provide an update of activity
concerning the Montney Formation in the Farrell Creek area of northeast British Columbia.
On December 10, 2008 Talisman Energy, Inc. (“Talisman”) (TSX: TLM) delivered a presentation to
the Hudson’s Hope Town Council on the status of their Montney shale gas play. CSRI believes that
the test results and spending plans outlined in this presentation may have positive and significant
implications for the Company’s 25,000 gross acres of Montney Formation rights that are within close
proximity to this well. As part of the drilling of several vertical wells in the Farrell Creek area, the
Talisman c-85-
I
well (see attached CSRI map) is reported to have tested at an initial flow of 4 mmcf/d
(4 million cubic feet per day) from the Montney Formation. According to the Talisman presentation,
this well is expected to decline fairly quickly and level out at 1 mmcf/d per day for approximately 20
years with only a slight decline. In addition, Talisman has spud its first horizontal Montney well on the
same lease as the c-85-
I
well. These wells are approximately 2 miles from the north portion of the
