News Release
WEST HAWK DEVELOPMENT CORP. ENTERS INTO FOUR-WELL DRILLING CONTRACT WITH BRONCO DRILLING
November 16, 2006, Vancouver, B.C.: West Hawk Development Corp. (TSX.v - WHD, Frankfurt H5N), via its wholly owned entity West Hawk Energy (USA) LLC, has entered into a significant four-well drilling contract with Bronco Drilling to drill four wells on the Figure Four Ranch property, located in the Piceance basin, Rio Blanco county, Colorado.
Permits for four additional wells are filed and will be issued by mid-to-late-December.
The Bronco No. 27 drill rig will arrive on-site during the first part of December and commence drilling operations. The gathering system pipeline is being installed to the first well pad. The initial road construction has been completed, permitting access to the well pad and the well pad construction has started.
The anticipated operational timeline is as follows: pipeline installation completed by the first part of December; well pad construction completed by the first part of December; road improvements finished by the end of year; drill rig delivered to site and drilling started by the first part of December; and first well drilled, completed, and producing 60 to 75 days thereafter.
The company's 5,200-acre Figure Four Ranch property, as per the National Instrument 51-101 resource evaluation report prepared by Gustavson Associates, contains a 530-billion-cubic-feet P50 natural gas resource. The NI 51-101 resource report is found on the company's website.
"Natural gas production from our first well will mark a major milestone that will transition West Hawk into an operating company," said Dr. William Mark Hart, president and chief executive officer of West Hawk Development. "John A. Reeves Jr., CEO of West Hawk Energy (USA) LLC, has done an excellent job developing the Figure Four Ranch project for the company. Meanwhile, we continue working diligently to bring West Hawk's other energy-coal-gasification-based assets -- Tulita area coal deposit in the Northwest Territories, the Groundhog deposit in Northern British Columbia and Ellesmere Island in Nunavut territory -- into commercial production."
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
About the Company: West Hawk Development Corp. is focused on providing valuable, high-demand energy products from a variety of sources. Assets include the 500 billion cubic feet (as per NI51-101 report) Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement with EnCana Oil & Gas (USA) Inc.; the 2(+) billion ton Fort Norman coal deposit in the Northwest Territories, being developed with Lurgi South Africa (Pty) Ltd. with the aim of creating a multi-stage, 200 billion cubic foot per year Coal-to-Gas operation supplying clean "syn-gas" to markets through Imperial Oil's proposed MacKenzie Valley Pipeline and/or producing high-demand electric power and sulfur free diesel through construction of an IGCC (Integrated Gasification Combined Cycle) facility; the one billion ton Groundhog anthracite coal deposit located in northwest British Columbia; and the 3(+) billion ton coal deposit located on Ellesmere Island, Nunavut Territory.
Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 51-101 Report on the Figure Four property. A National Instrument 43-101 report has been filed on the Groundhog property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Permits for four additional wells are filed and will be issued by mid-to-late-December.
The Bronco No. 27 drill rig will arrive on-site during the first part of December and commence drilling operations. The gathering system pipeline is being installed to the first well pad. The initial road construction has been completed, permitting access to the well pad and the well pad construction has started.
The anticipated operational timeline is as follows: pipeline installation completed by the first part of December; well pad construction completed by the first part of December; road improvements finished by the end of year; drill rig delivered to site and drilling started by the first part of December; and first well drilled, completed, and producing 60 to 75 days thereafter.
The company's 5,200-acre Figure Four Ranch property, as per the National Instrument 51-101 resource evaluation report prepared by Gustavson Associates, contains a 530-billion-cubic-feet P50 natural gas resource. The NI 51-101 resource report is found on the company's website.
"Natural gas production from our first well will mark a major milestone that will transition West Hawk into an operating company," said Dr. William Mark Hart, president and chief executive officer of West Hawk Development. "John A. Reeves Jr., CEO of West Hawk Energy (USA) LLC, has done an excellent job developing the Figure Four Ranch project for the company. Meanwhile, we continue working diligently to bring West Hawk's other energy-coal-gasification-based assets -- Tulita area coal deposit in the Northwest Territories, the Groundhog deposit in Northern British Columbia and Ellesmere Island in Nunavut territory -- into commercial production."
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
About the Company: West Hawk Development Corp. is focused on providing valuable, high-demand energy products from a variety of sources. Assets include the 500 billion cubic feet (as per NI51-101 report) Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement with EnCana Oil & Gas (USA) Inc.; the 2(+) billion ton Fort Norman coal deposit in the Northwest Territories, being developed with Lurgi South Africa (Pty) Ltd. with the aim of creating a multi-stage, 200 billion cubic foot per year Coal-to-Gas operation supplying clean "syn-gas" to markets through Imperial Oil's proposed MacKenzie Valley Pipeline and/or producing high-demand electric power and sulfur free diesel through construction of an IGCC (Integrated Gasification Combined Cycle) facility; the one billion ton Groundhog anthracite coal deposit located in northwest British Columbia; and the 3(+) billion ton coal deposit located on Ellesmere Island, Nunavut Territory.
Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 51-101 Report on the Figure Four property. A National Instrument 43-101 report has been filed on the Groundhog property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Contacts
North America
West Hawk Development, 303-524-1424
Email: news@westhawkdevelopment.com