This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Husky Energy encouraged by Doig/Montney drilling 2009-10-29 18:02 ET - News Release
Mr. John Lau reports
HUSKY ENERGY ANNOUNCES SUCCESSFUL EXPLORATION DRILLING AND LAND AUCTION RESULTS IN NORTHEAST BRITISH COLUMBIA
Husky Energy Inc. has completed and tested two exploratory wells to evaluate the shale gas potential in the Montney and Doig formations in northeast British Columbia, Canada.
The exploration drilling results are very encouraging. The Graham b-10-D/94-B-9 well flowed gas from the Doig formation at a rate of 2.9 million cubic feet per day. The Cypress a-31-B/94-B-15 well flowed gas from the Montney at a rate of 5.4 million cubic feet per day and from the Doig at 2.9 million cubic feet per day.
The land position covers an area of approximately 11,500 acres close to Husky infrastructure and has all season access.
"The recoverable resource potential from these wells are substantial and among the best vertical tests from the Doig/Montney play," said John C.S. Lau, president and chief executive officer. "These results are encouraging for Husky to expand its strategy in unconventional resource play development in this area."
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