RockBridge Reports on Continuing Development of Oil & Gas Projects
RockBridge Resources Inc. (RockBridge - "RBE") (TSX VENTURE: RBE) announces that production at the Woodrush oil and gas project, located in the Peace River Arch of British Columbia, increased substantially for the month of May with the operator reporting gross revenues of $1.7 million and an operating netback of $1.08 million. The project, in which RockBridge has a minor interest, produced 1,083 barrels of oil equivalent per day during May. The 332% improvement over the average gross monthly production during Q1-2010 follows 2 recent discoveries and the plans are to accelerate field development with additional drilling later this year.
RockBridge has interests in 2,880 acres in the prolific Pembina Cardium field located about 50 miles southwest of Edmonton, which includes 35.71% in 1,120 acres, with work continuing by the operator in preparation for a planned horizontal drilling program to commence later this year, plus a 50% interest in the other 1,760 acres in the Pembina field. The operator has in total, identified 14 low risk horizontal drilling locations on the properties for development over several years.
- Published: 25 June 2010
- Written by Editor