Compton announces activity update

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[{"type":"text","content":"\n\n\n\nCALGARY, April 17 /CNW/ - Compton Petroleum Corporation (TSX - CMT, NYSE\n- CMZ) is pleased to provide a brief update of recent activity with respect to\nhorizontal drilling at Hooker and Niton and the progress of the strategic\nreview process.\n\n\nOPERATIONAL UPDATE\n\n\nRecently, the use of multi stage frac technology combined with horizontal\nwells drilled into tight natural gas formations has produced significant\nresults for Compton. As compared to vertical drilling programs, the Company's\nearly results at Hooker and Niton indicate the potential for improved capital\nefficiencies and enhanced present values of reserves.\n\n\nHooker\n\n\nOn March 6, 2008 Compton announced the successful completion of the first\nhorizontal well using multi stage frac technology in southern Alberta\ntargeting the Hooker Basal Quartz formation. The well at 9-17-17-29W4 was\ndrilled with a 700 metre horizontal leg and was placed on production March 10,\n2008. Initial production was approximately 5 mmcf/d, and the well is currently\nproducing approximately 2.2 mmcf/d. Of significance is the fact that two\noffset vertical wells have shown minimal pressure interference from the new\nhorizontal well. Both of the offset wells are within 800 meters of 9-17 and\none has been on production since 2007 and has produced 4.7 bcf. This supports\nour reservoir models and the requirement for additional wells to recover the\nreserves from the Basal Quartz. The 9-17 well also supports the premise that\nhorizontal well technology can be effectively used to access productivity from\ntighter rock on the periphery of the play.\n\n\nCompton has since rig-released a second horizontal well at 15-30-16-29W4\nand is currently preparing to multi stage frac the well. Two additional\nhorizontal wells have been licensed and will spud once spring break-up road\nconditions permit.\n\n\nThe existing Basal Quartz play, as currently delineated, extends over\nfour townships where Compton has an average working interest of approximately\n85%. Infrastructure necessary to accommodate the accelerated production growth\nand development of this play is largely in place. Assuming continued\nhorizontal drilling success at Hooker, Compton estimates there are in excess\nof 100 potential horizontal locations on Compton lands.\n\n\nNiton\n\n\nThe horizontal well at 4-27-52-17W5 at N...

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