NEWS BULLETIN

March 14, 2011 --- Vol. 17, No. 23March 2011

BRPC spuds North Tarn No. 1

Brooks Range Petroleum Corp. spud the North Tarn No. 1 exploration well in the central North Slope of Alaska on March 13, the local independent has announced.

North Tarn No. 1 is on state land east of the Miluveach River, about two miles west of the Kuparuk River unit. BRPC spud the well using Nabors rig 9ES and accessed the well site using a winter ice road and pad system built by Peak Oilfield Services. BRPC plan to drill to 6,440 feet targeting both the Brookian and the deeper Kuparuk formations.

BRPC hopes to complete operations at North Tarn No. 1 by mid-April, but also said it could also end up drilling a sidetrack to the well this winter, depending on results.

“The BRPC Group is optimistically looking forward to see the results of the North Tarn No. 1 exploration well,” said Jim Winegarner, vice president of land and external affairs for BRPC. “The North Tarn No. 1 exploration well is the only exploration well being drilled on the North Slope this season, therefore, the BRPC Group holds the title as Alaska’s exploration company. We’d rather share that title with many more companies.”

BRPC is operating the well on behalf of its parent company, the Kansas-based Alaska Venture Capital Group LLC, as well as three joint venture companies: Brooks Range Development Corporation, Ramshorn Investments Inc. and TG World Energy Inc.

BRPC also said it is planning an application to form the Putu unit around its Tofkat acreage along the Colville River. The joint venture has drilled at that acreage in the past.

See story in March 20 issue, available online by 11 a.m. Friday, March 18, at www.PetroleumNews.com


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