SYS-CON MEDIA Authors: Adrian Bridgwater, Yeshim Deniz, Elizabeth White, Sean Houghton, Glenn Rossman

News Feed Item

Westbridge and Black Pearl Coordinate on Unconventional Gas Play in Southern Texas

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/26/14 -- Westbridge Energy Corporation (TSX VENTURE: WEB)(PINKSHEETS: WEGYF)(FRANKFURT: PUQ1) ("Westbridge" or the "Company") and Black Pearl Holdings, LLC ("Black Pearl") are pleased to announce the companies will be collaborating on an unconventional wet gas play in southern Texas. This new project is called the Frigate Island Project.

Westbridge and Black Pearl intend to source strategic and financial partners to partake in the leasing, exploration and development of the Frigate Island Project. This project represents one of the latest initiatives of Westbridge and Black Pearl and is indicative of the more than 500 leads and prospects identified as part of the joint venture and planned merger between the companies. Discussions have commenced with multiple potential partners and formal proposals are anticipated in the near term.

Unconventional gas plays are highly attractive to industry participants and Westbridge and Black Pearl believe the Frigate Island Project makes an excellent addition to the current portfolio of assets.

Frigate Island Project

The Frigate Island Project is located in southern Texas and is based upon the recent innovations in horizontal drilling and fracking. The project area is approximately 6,000 to 8,000 acres with the play potentially extending for 150 to 200 miles. The project area has both 2D and 3D seismic data as well as previously drilled vertical wells which penetrated the targeted interval. The wells planned for the project will be drilled to 5,500' vertically and then 2,500' laterally with staged fracking of the lateral reservoir interval. These wells will target the Lower Yegua interval, a well-known producing formation in the Gulf Coast of the United States.

The geologic setting for the Lower Yegua is that of an offshore bar / barrier island. These offshore bars contain sands which were deposited on a stable platform created by a deep-seated shale ridge. Longshore currents reworked these sands over the shale ridge. The reworked section is made up of 1 inch to 2 feet thick lenticular sands interbedded in shale. These sands are known to have excellent reservoir characteristics. The proposed wells will be designed to commingle all these highly laminated sand lenses through horizontal drilling and fracking of the Lower Yegua interval.

There are two unique aspects to this project:


1.  Due to the deep-seated shale ridge, the objective section is over-
    pressured. This will help contribute to higher initial production rates
    and enhanced well recoveries; and

2.  The objective section is hydrocarbon bearing throughout with no known
    water section (other than shale bound water).

To the south of the prospective area, lies an analog field. This field is productive from the same Lower Yegua interval that will be targeted by the proposed horizontal wells. This field has produced over 54.6 billion cubic feet of gas and 950 thousand barrels of condensate and is still actively producing.

Corporate Update

Westbridge and Black Pearl are currently producing oil and gas from the Bivens Field in southwest Louisiana. Once the production numbers have fully stabilized, Westbridge and Black Pearl will update the market with the flow rates from the recently completed workovers.

Westbridge and Black Pearl are also making progress towards completing a definitive agreement and the requisite filings to complete the merger of the companies. Formal updates with be forthcoming in this regard.

Management Commentary

Mr. Tosan Omatsola, President and CEO of Westbridge, comments: "Westbridge and Black Pearl believe the Frigate Island Project is an excellent complement to our existing portfolio of conventional oil and gas plays in the United States. Our management team is also highly focused on executing a value creating strategy in the near term, including the completion of the merger with Black Pearl, attracting partners for our various projects and drilling multiple exploration and development wells."

Mr. Michael Looney, President and CEO of Black Pearl, comments: "The Frigate Island Project has multiple unique attributes attractive to industry participants. In coordination with several technical consultants and nearby operators, we have assembled a large amount of technical data and continue to define and design the optimal project plan. We look forward to completing our planned merger with Westbridge and assuming an active role in the combined entity."

Further information on the Frigate Island Project can be found in Westbridge's corporate presentation available at: www.westbridgeweb.com.

On behalf of Westbridge Energy Corporation,

Tosan Omatsola, President and Chief Executive Officer

Darren Collins, Vice President, Business Development

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward looking information" within the meaning of the British Columbia Securities Act, the Alberta Securities Act and the Ontario Securities Act. Generally, the words "expect", "intend", "estimate", "will" and similar expressions identify forward-looking information. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward looking information. Statements in this press release regarding Westbridge's business or proposed business, which are not historical facts, are forward-looking information that involve risks and uncertainties, such as estimates and statements that describe Westbridge's future plans, objectives or goals, including words to the effect that Westbridge or management expects a stated condition or result to occur. Since forward-looking statements address events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's oil and gas properties. The foregoing commentary is based on the beliefs, expectations and opinions of management on the date the statements are made. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
This builds on Puppet Labs' first class Windows support, including native .MSI packages for x32 and x64 operating systems, modules to extend common Windows server management tools, including Powershell, and integrations with Microsoft Azure and Visual Studio. By automating common Windows administration tasks, Puppet Labs is enabling users to adopt DevOps practices, thereby reducing the time needed to deploy applications from weeks to hours.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
SYS-CON Media announced today that Skytap blog on "DevOps Journal" exceeded 84,000 story reads. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Noel Wurst is the managing content editor at Skytap. Skytap provides SaaS-based dev/test environments to the enterprise. Skytap solution removes the inefficiencies and constraints that comp...