Portrush set to drill exploratory well at Waubuno, SW Ontario.
Vancouver, British Columbia CANADA, October 08, 2008 /FSC/ - Portrush Petroleum Corporation (PSH - TSX Venture, PRRPF - OTCBB), (http://www.portrushpetroleum.com)
Portrush wishes to announce that it intends to commence drilling an exploratory well on its Waubuno property in Moore (St. Clair) Township, Lambton County, Southwestern Ontario within the next seven to ten days. Preparatory work is scheduled for early next week.
In early August the Company received a favorable geophysical report and interpretation from its consultants in Calgary. A good Niagaran pinnacle reef anomaly is reported to lie within the 150-acre unit known as the Waubuno Prospect, which was spaced and pooled by Portrush in 2005 and 2006. In 2007 the Portrush et al #1, Moore 5-13-III exploratory test was drilled and was suspended after encountering near reef geological conditions. This Well was drilled on limited 2D Seismic data and the original interpreted anomaly is now considered as "side swipe" to a pinnacle reef.
The prospect is on trend and mid point between two pinnacle reef gas storage pools, Kimball Colinville and Waubuno. Both pools produced approximately 6.00 BCF before being converted to gas storage.leases.
A drill location to test the interpreted crestal position of a postulated pinnacle reef has been surveyed. The application for a drill permit for the Portrush et al #2, Moore 6-12-III was filed by Hadley Resources Limited (Canada) with the Ministry of Natural Resources on July 31, 2008
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SOURCE: Portrush Petroleum Corporation
Source: Portrush Petroleum Corporation (TSX-V: PSH) (OTCBB: PRRPF) http://www.portrushpetroleum.com
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