VANCOUVER, British Columbia, Feb. 8, 2005 (PRIMEZONE) -- Portrush Petroleum Corporation announced today that the most recent well drilled on the Mission River, Texas property has been completed.
The Scanio/Shelton Well No. 9, Mission River, Texas reached total depth on Sunday February 6. A total of 48 sidewall cores were taken prior to completion. Preliminary evaluation of the downhole logs and the sidewall cores indicate the well is commercial and has encountered a number of prospective oil and gas horizons similar to the other five wells, all of which are productive.
A service rig has been scheduled for later this week. This will allow sufficient time for the cement to set. We anticipate a commercial gas well can be connected to the gathering system without delay. If the well is an oil producer it can go on production immediately
The operator has advised that he has begun contracting for a deep rig capable of drilling to 8,500 feet. The well will involve setting intermediate casing just above 8,000 feet before the formation pressure starts to rise. If geological considerations justify, the proposed depth may be increased to plus or minus 10,000 feet. The initial engineering is to assume a test of the Lower Vicksburg located between 8,000 and 8,500 feet.
Mr. Wesley Franklin, chief geologist for the operator, commented, "Based on previously drilled deep producers on the property we anticipate multiple pays in the 8,100 to 8,500 Lower Vicksburg. Furthermore, we expect the zones will require fracing and we look forward to the zones producing at 5 million cubic feet a day or greater and recover 3 to 6 BCF."
About Portrush Petroleum
Portrush Petroleum is a rapidly growing oil and natural gas exploration and production company focused on its core properties in the Michigan Basin, the Mission River Development project, situated in Refugio and Goliad Counties, Gulf Coast, Texas and Cranberry Alberta, a large acreage Mississippian and Slave Point target.
Portrush is publicly traded on the TSX in Canada and on the bulletin board in the United States under the symbols: TSX Venture Exchange: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.