NEWS BULLETIN

March 27, 2006 --- Vol. 12, No. 18March 2006

Aurora to start drilling at Endeavour

Aurora Gas LLC has mobilized the Kuukpik Rig No. 5 and started site preparations to drill the Endeavour wildcat oil well near Anchor Point on Alaska’s Kenai Peninsula.

“We’re getting ready to drill,” Ed Jones, Aurora’s executive vice president of engineering operations, has told Petroleum News. “… We’re hoping to start drilling a well within a couple of weeks.”

Aurora has not yet formally signed the drilling contract with Kuukpik Drilling LLC, but expects to do so in the next couple of days, Jones said. The Kuukpik rig recently completed drilling of Storm Cat Energy Corp.’s Northern Dancer No. 1 well in the Matanuska-Susitna Valley.

Aurora has found a partner for the drilling at Endeavour but is unwilling to divulge details of the partnership until the partnership agreement has been signed. That will probably happen within the next few days, Jones said.

The Endeavour well will target a Tyonek and Hemlock formation oil prospect that mirrors the nearby Cosmopolitan prospect. Cosmopolitan is known to contain oil. Endeavour also has gas potential in horizons above the oil prospect.

Editor’s note: The full story will appear in the April 2 issue of Petroleum News.


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