CALGARY, Nov. 20 /CNW/ - Sabretooth Energy Ltd. ("Sabretooth" or the
"Company") (TSX: "SAB") is pleased to provide an operational update pertaining
to recent drilling and completion success on the Montney play in North Western
Alberta.
Sabretooth today announced that it has drilled, cased and completed a
Montney horizontal well in the Gordondale area of North West Alberta. The
well, 66.7% owned by Sabretooth, encountered pay in the Montney formation
throughout the 1,000 m horizontal section. Six 100+ tonne fracs were
successfully performed. The Montney tested at 3.5 MMCFD on a sustained rate
during extended clean up with 65 barrels of 43 API oil per day. Tie-in of the
well started concurrent with the completion and the well is expected to be
further tested in-line before the end of November 2008. Sabretooth intends to
follow up this discovery with additional wells through 2009.
Sabretooth has 62 net sections in the Montney fairway of Alberta and
NEBC.
About Sabretooth Energy
Sabretooth Energy Ltd. is a public oil and gas exploration and
development company, located in Calgary, Alberta and carrying out operations
in Western Canada. Sabretooth trades on the Toronto Stock Exchange (TSX) under
the symbol "SAB".
This news release contains forward-looking statements relating to the
Company's plans and other aspects of the Company's anticipated future
operations, strategies, financial and operating results and business
opportunities. Forward-looking statements typically use words such as
"anticipate", "believe", "project", "expect", "plan", "intend" or similar
words suggesting future outcomes, statements that actions, events or
conditions "may", "would", "could" or "will" be taken or occur in the future,
or statements regarding the outlook for petroleum prices, estimated amounts
and timing of capital expenditures, the timing, location and extent of future
drilling operations anticipated timing and results of construction projects
and project tie-ins, estimates of future production, the ability to realize
the timing, on investments in ABCP, the terms of the Corporation's new credit
facility, loans to be received from National Bank of Canada, if any, operating
costs or other expectations, beliefs, plans, objectives, assumptions or
statements about future events or performance. Statements regarding reserves
are also forward-looking statements, as they reflect estimates as to the
expectation that the deposits can be economically exploited in the future.
These statements are based on certain factors and assumptions regarding
expected growth, results of operations, performance, business prospects and
opportunities, the terms of the Corporation's new credit facility and the
ability of the Company to realize on its investments in ABCP.