Message #23 From:
NewsBot Date: October 26, 2005 02:00:00 AM
TREN News Torrent Completes Drilling of Fifth Well and Commences Completion Operations on Beaver Hill Pilot Project
VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 26, 2005--Torrent Energy Corporation (the "Company") (OTCBB:TREN) is pleased to announce the following developments from its wholly owned operating subsidiary, Methane Energy Corp. ("Methane").
Methane has completed drilling and setting production casing for Beaver Hill #5, which is the fifth of five wells included in Methane's Beaver Hill pilot project located in Coos County, Oregon. All five wells in this project are located on a single site within the Coos County forest lands. The well was directionally drilled to a total depth (TD) of 4,400 feet and encountered a number of prospective coal seams, including a 20 foot section of the targeted Lower Coaledo "D" seam.
Methane's Chief Operating Officer, John Carlson, states, "We have again successfully drilled through our targeted 'D' coal seam in the Lower Coaledo formation and confirmed a contiguous 15 to 20 foot thick section of coal over a 160 acre section comprising the Beaver Hill pilot project. The focus will now change to completions of Beaver Hill #2 through #5 through a combination of open hole drill-outs and cased hole perforations. Injectivity testing will follow to determine formation permeability and the requirements for further wellbore stimulation." Mr. Carlson went on to state, "We also plan on initially installing pumping and production equipment on Beaver Hill #1 in order to acquire more comprehensive data on the productive characteristics of this particular coal seam. Open hole completions will be done using the Roll'n Rig #14 currently on location over the next two weeks, and the cased hole completions will be done using a conventional service rig during the month of November."
About Torrent Energy Corporation
Torrent Energy Corporation is a growing exploration company focusing on developing non-conventional natural gas reserves. The Company's primary objective is to create value for the Company by applying strong technical expertise to projects. The Company's current focus is on the exploration of the Coos Bay Basin project in southwestern Oregon where the Company currently has a land portfolio that includes over 70,000 acres of prospective land in the Coos Bay area. For more information please visit www.torrentenergy.com.
On behalf of the Board of Directors,
TORRENT ENERGY CORPORATION
Mark Gustafson, President
Safe Harbor Statement This news release includes statements about expected future events and/or results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements in this release include, but are not limited to, our intention to complete the previously drilled Beaver Hill #2 and #5 wells through a combination of open hole drill-outs and cased hole perforations; to follow with injectivity testing; and to install pumping and production equipment on Beaver Hill #1. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, inability to maintain qualified employees or consultants, potential delays or obstacles in spudding and interpreting data, possible failure of equipment and the likelihood that no commercial quantities of gas are found or recoverable. For more risk factors about our Company, readers should refer to risk disclosure in our 424 prospectus filed on Edgar on May 5, 2005.
