Utica Shale: Junex JNX 2009 Update - Natural Gas

Junex ( CVE: JNX ) has come out today, 2/24/09, and updated investors on the Utica Shale well they are drilling with partner Forest Oil ( FST ).

Forest drilled and completed the first three horizontal Utica Shale wells in Quebec's St. Lawrence Lowlands, which were successfully cased and fracture stimulated in four stages with rates ranging from 100 - 800 Mcf/d. Frac load flowback was incomplete due to the lack of coiled tubing units in the area. Forest expects to continue to test its wells after the winter season is over. Although sustained rates were not as high as anticipated, the tests have allowed Forest to identify the section of the shale it intends to target in future test wells. Each of the wells were tested in different sections of the Utica Shale with an objective of gathering data on productivity to allow optimization of future completions. Furthermore, Forest proved the ability to successfully drill the wells horizontally and pump multi-stage slickwater frac jobs without major operational issues."

"We are quite excited that our partner is perseverant in its efforts and remains committed to the Utica Shale Gas project. The three wells drilled in 2008 are the first horizontal wells to be drilled and fracture stimulated in the Utica Shale in Quebec. Considering that the Lowlands shale gas play is at its earliest stage of development, we fully expect to learn and build upon the results from these few first wells to develop the best drilling and completion recipes for the Utica Shale" said Junex's president, Mr. Jean-Yves Lavoie, P. Eng. "Furthermore, the results of the Champlain #1H horizontal well, coupled with the results of Junex's St-Augustin-de-Desmaures #1 well drilled near Quebec City last year, demonstrate the shale gas potential of Junex's 100%-held north shore acreage along the pipeline corridor between the two areas."

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Haynesville Shale: DeSoto Parish 2009 Update

St Mary Land and Exploration ( SM ) has come out with an operational update on their first Haynesville Shale well drilled in Desoto Parish Louisiana.

In the Haynesville shale, St. Mary has reached total depth on it first operated horizontal Haynesville well. The Johnson Trust 1-2 well (SM 90% WI), located in the Spider Field in De Soto Parish, Louisiana, was drilled to an approximate measured depth of 15,100 feet and has a lateral length of roughly 3,300 feet. The well is scheduled to be completed in early March due to a delay related to the sourcing of proppant after the Company revised its original stimulation design. St. Mary’s current completion design calls for a ten stage, slick water fracture stimulation using slightly under three million pounds of premium resin coated sand. The next planned well in the Haynesville is expected to be in Shelby County, Texas, where the Company has a sizable acreage position. St. Mary has approximately 50,000 net acres that are prospective for the Haynesville shale in East Texas and northern Louisiana.

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