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Entry Into Marcellus Shale Play and Completes Deep Test Well in New York
May 15, 2009 08:57AM
May 15, 2009
Unbridled Energy Announces Entry Into Marcellus Shale Play and Completes Drilling Deep Test Well in New York
CALGARY, ALBERTA and PITTSBURGH, PENNSYLVANIA--(Marketwire - May 15, 2009) - Unbridled Energy Corporation (TSX VENTURE:UNE)(OTCBB:UNEFF)(FRANKFURT:... ("Unbridled Energy" or the "Company") announces it has successfully drilled the stratigraphic test well on its Chautauqua Lake acreage in western New York. The well was drilled, cored and logged to a total depth of 7,300' as planned.
This well, drilled in conjunction with New York State Energy Research and Development Authority (NYSERDA) was an effort to test the potential of several deep horizons in the area. The exact well location was determined using 2-D seismic. The data from the logs and core is currently being evaluated.
Additionally, the Company is pleased to announce it has entered into an agreement with a leasing company to create an Area of Mutual Interest (AMI) of approximately 30,000 acres in the Marcellus Shale play. The AMI, located in northeast Pennsylvania, is designed to secure acreage prospective for the Marcellus and other shale reservoirs. The lands are close to known productive Marcellus wells and near pipelines. Terms on key acreage have now been agreed upon. The Company is seeking partners to help offset leasing costs in addition to securing a working interest partner. Interested partners and landowners should contact Unbridled Energy at 724-934-2340 for more information.