Moncton, Canada, Feb. 19, 2014 (GLOBE NEWSWIRE) -- 19 th February 2014, London, UK - International Western Petroleum Corporation (Ticker: IWPO), the GXG-listed oil & gas exploration and production company with operations in Texas, is pleased to announce successful result of Pittard Bend Arch White 1A well as the first oil well made of the 4-well program Bend Arch Lion 1A JV located in Coleman County, Central West Texas.
After reviewing the mud log and open hole log among our Geologist staff, we feel very confident in moving forward in the Pittard Bend Arch White 1A to make it a new oil well. The first zone we will test is the Ellenburger; this is the zone that was our main target. After reviewing the cuttings from the Ellenburger zone and looking at the micro log, our staff likes the fractures in this zone and the samples we caught drilling through the zone. There were 4 samples that were very strong in Hydrocarbon odor and had 60-70% fluorescents with a good flash cut and res ring. With our staff reviewing other open holes logs of known wells producing out of the Ellenburger formation, our expectations are to produce the Ellenburger zone and then work our way back up the hole to the shallow zones of this well.
Beside the excellent Ellenburger zone we hit as our main target of this exploration, the Barnett Shale we also hit in this well is a very thick gas zone on the mud log, making it a great asset of the joint venture. For the Gardner Sand and Palo Pinto Lime, these are two zones that had good shows on the mud log. These two zones are known for longevity producers in Coleman County. There have been wells in the area producing out of these zones for over 40 years.
President & CEO Ross Ramsey stated, "The dedicated management team at International Western Petroleum is very happy and excited with the results so far from the first well of this program. As a result, we have cemented this well and are waiting for the workover rig to complete the well very soon before starting its initial production."
IWPO's Chairman Dr. Benjamin Tran also added, "We have achieved 100% funding commitment due to the excellent result of this very first well of our flagship drilling program in the Bend Arch. We will give an update on this closing very soon."
About International Western Petroleum Corporation:
International Western Petroleum Corporation (GXG: IWPO) is a global oil & gas E&P company specializing in exploration and lease acquisitions with a focus on North America. IWPO boasts a world-class team of petroleum engineers, scientists, geologists, and global marketers serving major oil & gas companies worldwide. For more information, please visit the corporate website: www.iwpetro.com
For virtual oil field visit, please visit: http://www.iwpetro.com/index.php/component/k2/item/119
Contact:
International Western Petroleum Corporation
Investor Relations Department
HUG#1763025
