Montney Shale Formation Update: British Columbia Canada

By Tim - http://oilshalegas.com

Canadian Spirit Resources Inc. (CSPUF.PK) has recently updated shareholders on the Montney Shale located in British Columbia, Canada.

The joint venture increased its Montney rights from 47 sections to 51 sections (gross). CSRI now has approximately 30 net sections of Montney rights in the Farrell Creek area of northeastern British Columbia.

The Operator, Canbriam Energy BC Partnership ("Canbriam"), continues to progress with the $49.0 million (gross) capital program for 2010.

The c-A48-I well was stimulated in the lower portion of the Montney Formation. With only two stages flowing, the well had an initial production rate of 3.5 mmcf/d, and a stabilized rate of 2.0 mmcf/d over a seven day period.

An additional upper Montney horizontal leg will also be drilled and completed from the existing wellbore at c-A48-I by year-end.

The first of two horizontal wells targeting the upper portion of the Montney Formation has been drilled and cased from the c-18-I pad. A second well, from the same pad, is currently being drilled. It is expected that this second well will be drilled and cased by the end of September, with both wells to be stimulated in October.

A gas facility is expected to be commissioned during the fourth quarter of 2010. It will have an initial capacity of 10 mmcf/d and will be scalable to 50 mmcf/d.

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Montney Shale: Progress and ProEx announce Business Combination

Progress ann ProEx, two companies that trade on the Toronto Stock Exchange, announce they will combine businesses to focus their assets, including the Montney Shale in British Columbia.

Key attributes of the merger for ProEx shareholders: - Consolidates working interests in the Foothills of northeast British Columbia with the majority of land controlled 100 percent; - Provides ProEx with exposure to a high quality asset with a large low risk exploration and development drilling inventory in the northwest Alberta Deep Basin; - Ensures that an expanded capital program can be funded internally; - Ensures continuity of senior management and technical personnel expertise; and, - Introduces another element of financial discipline through the payment of a quarterly dividend. Key attributes of the merger for Progress Trust security holders: - Establishes a clear go-forward strategy in response to the taxation of trusts in 2011; - Continues to pay cash back to security holders in the form of a tax-effective dividend; - Provides a strong low-risk growth profile through an expanded capital budget; and, - Provides expanded participation in emerging resource-play opportunities.

Progress will focus its capital investment and growth opportunities in four key plays: the Halfway tight gas formation in the Foothills; the multi-zone Gold Creek project area in the Deep Basin; Montney shale gas fairway through northwest Alberta and northeast British Columbia; and Progress' conventional, high impact opportunities across its land base.

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Haynesville Shale: Encana ( ECA ) 10/23/08 - Operational Update

Encana ( ECA ) has come out with their earnings report as well as their operational report including the Haynesville Shale and Horn River Shale. Operating earnings up 40 percent to $1.92 per share or $1.4 billion

Haynesville Shale: In the third quarter of 2008, we strengthened our position in the Haynesville gas resource play by acquiring 25,000 net acres, increasing ourland position to about 400,000 net acres, plus 63,000 net acres of mineral rights. We continue to see great potential in this promising shale play,"Eresman said. "EnCana, along with our partner, Shell Exploration & Production,has an industry-leading land position in this area of Louisiana. We currently have six rigs running with a focus on cost reduction and completion optimization. We will target drilling and completing the first well in themid-Bossier shale in the fourth quarter.

Horn River Shale: At HornRiver in British Columbia, EnCana and partner Apache Corporation have completed seven wells this year, with one of our most recent wells delivering encouraging results, flowing for the first 30 days at an average of almost8 MMcf/d."

Montney Shale: In northeast British Columbia and northwestern Alberta, our already strong land position in the Montney play hasexpanded to more than 700,000 acres. With that, EnCana has the largest disclosed land base in this emerging unconventional gas field.

Halliburton HAL 3rd Quarter Earnings .76EPS - Montney Shale, Bakken Shale

Halliburton ( HAL ) released 3rd quarter earnings this morning 10/20/08 and provided updates on the Montney Shale of Canada and the Bakken Shale of North Dakota.

For the third quarter, HAL earned .76 Earnings per share.

In Canada's Montney shale play, Halliburton completed its 50th horizontal CobraMax(R) job. The CobraMax(R) process now averages less than eight hours per zone from cut to cut, an improvement from over 24 hours on earlier wells.

Halliburton has set its 900th Swellpacker(R) isolation system in horizontal Bakken wells in the Williston Basin. The use of this packer system has allowed operators to compartmentalize their wellbores for fracture completions resulting in improved production. Delta Stim(R) sleeves are also used with the Swellpacker(R) systems greatly reducing the time required to complete a well.

For a full earnings calendar - visit - http://blackberrystocks.com

Montney Shale - British Columbia Natural Gas Field

The Montney Shale is attracting bids for land by large companies. Located just below the Horn River Shale in British Columbia....energy giants such as Encana are scopping up land like we are running out of natural gas.

A record 610 million dollars of land leases were made at an auction in July.

Stay tuned to see how much the August auction raises! If you thought the Haynesville Shale was hot....Canada has their own shale plays!