Unitech Energy provides an operations update

About this update from Decimus Oil Corp.

[{"type":"text","content":"\n\n\n\nCALGARY, Feb. 27 /CNW/ - Unitech Energy Resources Inc. ("Unitech" or the\n"Company") (TSXV: URX) is pleased to announce the following updates to its\noperations:\n\n\n1. Kotcho, B.C. - Unitech has been advised that the current operator of\n the Kotcho c-B67-K/94-E-14 test well in N.E. British Columbia\n ("Disposal Well"), in which Unitech has an approximate 23% working\n interest and for which a salt water disposal license was recently\n granted, has signed a letter of intent to sell the operator's\n approximate 70% working interest in the Disposal Well to an\n established disposal well operator ("Disposal Operator"). Unitech was\n also approached by the Disposal Operator to sell Unitech's working\n interest in the Disposal Well but, upon analysis of the disposal\n opportunity, Unitech concluded that it was in the Company's best\n interests to remain a participant in the Disposal Well. Unitech has\n been advised that the Disposal Well Operator is currently acting to\n place the Disposal Well on disposal, with the first injection under\n the disposal licence to commence by mid-March 2009. This new facility\n is expected to operate continuously throughout the year.\n\n2. Caroline gas well - Unitech is the operator of, and holds a 35%\n working interest in, the 10-29-030-03W5 gas well. This well has been\n pressure tested and preliminary results, using standard engineering\n material balance calculations, indicate remaining reserves of\n approximately 5 BCF. Flow tests were conducted at rates in excess of\n 1MMcf per day and it is expected that the well will initially produce\n at greater than 500 Mcf per day. Pipeline installation is expected\n within 60 days with production expecting to commence shortly\n thereafter. The Company has sufficient cash on hand to funds its\n obligations for this play.\n\n3. Garrington oil well - The operator of the Garrington 4-20-34-3W5\n well, in which Unitech has a 50% before payout and 25% after payout\n working interest, reports that the well was fracture stimulated as\n planned and is producing both oil and gas at intermittent rates while\n on cleanup. Work continues on the well to determine the optimal\n production configuration for the plunger lift system. The Company\n believes that this well will be a producing well but cannot project\n net re...

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