CALGARY, ALBERTA -- (MARKET WIRE) -- 03/08/07 -- Longford Corporation (TSX VENTURE: LFD) reports that it has drilled and cased a third horizontal Mannville Coal Bed Methane ("CBM") well near Barrhead Alberta and has commenced a production test of two adjacent horizontal wells.
Drilled in partnership with Nexen, this third horizontal well was drilled and cased to a true vertical depth of 1,105 meters. A horizontal lateral was then drilled from the vertical well into the Upper Mannville coal seam to a length of 1,510 meters.
The horizontal lateral of this well encountered 1,490 meters of coal which demonstrated good to excellent cleating and indications of reservoir permeability throughout based on samples and drilling fluid losses to the coal. Strong indications of gas were present throughout the drilling of the horizontal well bore and core data from adjacent sections and initial production data appear similar to the nearby Corbett Creek CBM project.
Longford has also commenced a production test of two adjacent horizontal wells in Barrhead and has seen gas pressure after only nine days of dewatering operations. Pending satisfactory results from this production test permanent facilities and tie-in will be considered after break-up. Longford has applied to the Alberta Energy & Utilities Board for increased downspacing in the Barrhead area and plans to drill additional horizontal laterals on this location upon receipt of approval.
The Alberta Geological Survey has estimated that the Mannville coals of Alberta have over 320 Tcf of gas in place, nearly three times the 101 Tcf of gas remaining in Alberta's conventional gas reserves. Longford has accumulated the CBM rights to 22,404 gross (10,820 net) acres of land with Mannville CBM potential in the Barrhead area. These properties are located in the vicinity of the Corbett Creek CBM project where horizontal well technology has been used to develop Mannville CBM production.
Longford Corporation is a Canadian oil and gas exploration company listed on the TSX Venture Exchange under the symbol "LFD". The Company is focused on exploring for and developing North American oil and gas assets and currently has two Coal Bed Methane projects in Barrhead Alberta and Moundville Alabama.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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