VANCOUVER, British Columbia, March 14, 2005 (PRIMEZONE) -- Portrush Petroleum Corporation (OTCBB:PRRPF) (TSX-V:PSH) announced today that the most recent well drilled on the Mission River, Texas property has been placed on production.
The Scanio/Shelton Well No. 9, Mission River, Texas reached total depth on Sunday, February 6 and was placed on production at approximately half-a-million cubic feet of gas per day for several days before turning to oil. At present the well is flowing at approximately 80 barrels of oil a day.
The Mission River field has six wells on production and is currently producing approximately1.1 million cubic feet of gas and 120 barrels of oil per day. Six wells remain to be drilled and the operator has advised the next well will test the Lower Vicksburg at 8,500 feet and should commence drilling within 30 days.
The Mission river lease is operated by the McAlester Fuel Company (McFuel) and is located at the south end of the town of Refugio, refugio County, Texas. The field has multiple pays at depths ranging from 2,000 to 8,500 feet.
Mr. Chris Barden for the operator commented; "Most of the production from wells on the McFuel lease has been from the 6,400 foot Massive Vicksburg ("Tom O Connor" Sand) and "G" series (6,300) Frio zones. A down-dip well south of the McFuel lease has produced 600,000 barrels plus of oil from 10 feet of net pay in the FQ-31 Sand. Two wells on the McFuel lease have each produced over 150,000 barrels of oil from the "FT-8 Sand" from only a five foot net pay thickness. A significant untapped shallow oil play exists at approximately 4,150 to 4,200 feet. Less than two miles south of the McFuel lease the uppermost Oligocene Age Discorbis zones have produced 2.3 million barrels of oil and 8.2 BCF in the shallow wells located in the Woodsbororo South Field (4,200) Each payzone ranges from four to six feet of net pay thickness."
About Portrush Petroleum
Portrush Petroleum is a rapidly growing oil and natural gas exploration and production company focused on its core properties in the Michigan Basin, the Mission River Development project, situated in Refugio and Goliad Counties, Gulf Coast, Texas and Cranberry Alberta, a large acreage Mississippian and Slave Point target.
Portrush is publicly traded on the TSX in Canada and on the bulletin board in the United States under the symbols: TSX-V:PSH, OTCBB:PRRPF.
Information on the company can be obtained by calling (800) 828 1866 or at www.portrushpetroleum.com
The company relies on litigation protection for "forward-looking statements".
ON BEHALF OF THE BOARD M.Cotter President
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