VANCOUVER, British Columbia, April 11, 2005 (PRIMEZONE) -- Portrush Petroleum Corporation (OTCBB:PRRPF) (TSX:PSH) has received a technical evaluation from McAlester Fuel on its proposal to drill a well to a depth of approximately 10,000 feet on the Mission River, Texas Project. Portrush has a 10% working interest in the project. While discussing the project, Mr. Wesley Franklin for McAlester gave the following reasons why McAlester is convinced significant oil and gas reserves remain untapped at deeper levels.
"McAlester Fuel has applied for a drilling permit for the McAlester 'Scanio-Shelton No. 10.' McAlester has defined the prospect by a combination of sub-surface well control and an innovative exploration technology known as electro-magnetic imaging.
"On the Scanio-Shelton lease, three nearby wells encountered hydrocarbon shows and production from depths ranging in depths from 8,200 to 8,500 feet in the Lower Vicksburg formation. From an individual sandstone reservoir, one well produced at an initial rate of 12 million cubic feet of gas per day, and 240 barrels of oil per day. Two other wells drilled in the early 1960s each had initial potentials of 8 million cubic feet of gas per day from individual reservoirs. McAlester believes the original objectives for these wells were oil producing targets and that additional zones had been bypassed. At the time these wells were drilled, the price for natural gas was below $.20 per thousand cubic feet, whereas current gas price exceeds $7.50 per thousand cubic feet. Additionally, the sandstones in the older wells were not fracture stimulated, a commonly used technique in the industry today to enhance producing rates and the increase the ultimate recovery of the hydrocarbons.
"Electro-magnetic prospecting is a relatively new technology that grew out of the research group at Exxon. In fact, Exxon has publicly stated that it will add this technique to its exploration arsenal, which includes the acquisition of 3-D seismic data, for all its world-wide prospects. The technique involves the generation of continuous electrical energy at the surface to investigate the earth's subsurface geological structure and stratigraphy. The electro-magnetic waves propagate downward and encounter various geologic boundaries. Those boundaries having conductivity contrast reflect a portion of the waves back to the earth's surface, much as sound wave energy is generated and reflected in seismic recording. The electrical-magnetic waves become organized such that a direct relationship between the resonating frequencies and the depths to the various geologic boundaries occur. The electrical contrast between hydrocarbon bearing rocks and their surrounding formations, an electro-magnetic signature can be detected and measured. The phenomenon results in the direct detection of the hydrocarbons, as well as the depth and thickness of potential reservoirs. When used in combination with subsurface well control on the Scanio-Shelton lease, this technology has produced a good estimate of the potential for deeper prospects in the range of 8,000 to 10,000 feet.
"The McFuel Scanio-Shelton No. 10 will be spud as soon as a rig capable of drilling to 10,000 feet becomes available," Mr. Franklin concluded.
The Mission River field has six wells on production. Total production from the field for the month of March was 30.127 million cubic feet of gas and 1,917 barrels of oil. Six shallow wells remain to be drilled. The focus has now shifted to the deeper potential of the lease.
Portrush is publicly traded on the TSX in Canada and on the bulletin board in the United States under the symbols: (TSX:PSH) (OTCBB:PRRPF).
Information on the company can be obtained by calling (800) 828-1866 or at www.portrushpetroleum.com
The company relies on litigation protection for "forward-looking statements."
ON BEHALF OF THE BOARD /s/ M. Cotter President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.