Torrent Provides Update on Production Testing Operations at Pilot Projects.SEATTLE -- Torrent See BitTorrent. torrent - BitTorrent Energy Corporation (the "Company") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TREN) announces the following developments from its wholly owned operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Methane Energy Corp. ("Methane"). Upon completion of the recent multi-well nitrogen (N2) stimulation program, Methane moved into production testing operations on both the Radio Hill and Beaver beaver, either of two large aquatic rodents, Castor fiber and Castor canadensis, known for their engineering feats. They were once widespread in N and central Eurasia except E Siberia, and in North America from the arctic tree line to the S United Hill pilot projects in Coos County, Oregon Coos County is a county located in the U.S. state of Oregon. In 2000, its population was 62,779. It is named after a tribe of Native Americans who lived in the region. The county was formed from the western parts of Umpqua and Jackson Counties. The seat of the county is Coquille. . Production tubing Production tubing is a tubular used in a wellbore through which production fluids are produced. Production tubing is run into the drilled well after the casing is run and cemented in place. has now been run in all wells and production testing is underway. The Radio Hill #1 well has produced high quality limited methane volumes at stabilized flow rates for a period of nine days prior to being shut in for pump installation. Continuing modest increases in fluid levels in the wellbore have been recorded since the commencement of production testing, however, no formation water has been produced at surface to date from the well during this flow testing phase. A hydraulic pump-lift system is scheduled to be installed on the well before continuing with the production testing and this is expected to enhance the productive capability of the well. The Beaver Hill #2, #3, #4 and #5 wells have all been swabbed dry after tubing was run in each well bore. Each well has been produced at stabilized rates for various periods of time and each well has produced for a maximum period of at least ten hours prior to the tubing installation. Fluid levels are continually monitored in each wellbore with an Echometer. While fluid inflows have been recorded in a number of the wells, no formation water has been produced to date at surface when the wells have been flow tested. Hydraulic pump-lift systems are scheduled to be installed in each well in the near future. The Roll'n service rig is scheduled to be on location for another 10 days completing swabbing operations and pump and rod installations and then released from location. Thereafter, the wells will be flowed selectively to facilitate the acquisition of additional production and pressure data. Sproule Associates Inc. has completed their revised resource assessment for the Methane leases in Coos County Coos County is the name of two counties in the United States:
Torrent President and Chief Executive Officer, John Carlson John Carlson (born June 3, 1959) is a popular American conservative talk radio host on KVI, a Seattle talk radio station owned by Fisher Communications. His show formerly aired during the afternoon drive time. , states, "We see the opportunity for a significant gas resource base in Coos County that has continued to increase in size over time. We are encouraged that each of our pilot wells is capable of producing at sustained gas rates. We will continue with production testing operations during the next few months to further expand our technical understanding of the various Lower Coaledo coal reservoirs. As with all North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. coal bed methane projects, instant production results and understanding of reservoir characteristics are seldom the norm and patience is required to develop a complete reservoir and production model for a specific coal basin. We are prepared to stay the course and the early production data, in conjunction with the Sproule resource assessment, supports our plans to continue with further exploratory and development drilling throughout the Coos County Basin during our current fiscal year." Mr. Carlson went on to say, "The Company is developing a significant asset base in Coos County and we look forward to another season of drilling, completion and testing of additional wells in the basin. The Company will further delineate the various coal seams Noun 1. coal seam - a seam of coal seam, bed - a stratum of ore or coal thick enough to be mined with profit; "he worked in the coal beds" coalface - the part of a coal seam that is being cut of interest, develop repeatability of the drilling process and optimize drilling and completion operations to ensure the next round of wells are drilled on a more efficient and cost effective basis". About Torrent Energy Corporation Torrent Energy Corporation is a growing exploration company focusing on developing non-conventional natural gas reserves in the Northwestern United States Noun 1. northwestern United States - the northwestern region of the United States Northwest western United States, West - the region of the United States lying to the west of the Mississippi River . The Company's primary objective is to create value for the Company's stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. by applying strong technical expertise to projects. The Company's Oregon subsidiary, Methane Energy's, current focus is on the exploration of the Coos Bay Coos Bay (k  s), city (1990 pop. 15,076), Coos co., SW Oreg., a port of entry on Coos Bay; founded 1854 as Marshfield, inc. 1874, renamed 1944. Basin project in southwestern Oregon where the Company currently has
a land portfolio that includes over 114,000 acres of prospective land in
the Coos Bay area. The Company's Washington subsidiary, Cascadia
Energy, is focused on two projects in southwestern Washington State
where it hold substantial lease and lease option commitments.
For more information please visit www.torrentenergy.com. On behalf of the Board of Directors, TORRENT ENERGY CORPORATION John D. Carlson, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release include, but are not limited to, that a pump-lift system is scheduled to be installed on our wells before continuing with the production testing which is expected to enhance the productive capability of the well; that a service rig is scheduled to be on location for another 10 days completing swabbing operations and pump and rod installations; that the wells will be flowed selectively to facilitate the acquisition of additional production and pressure data; that we may be operating in an environment with minimal water production which could translate into a higher ultimate resource base; that we will continue with the production testing during the upcoming months; that we are developing a significant gas resource base; that we will continue with further exploratory and development drilling throughout the Coos County Basin during our 2006/2007 fiscal year; and that further drilling will delineate the various coal seams of interest, develop repeatability of the drilling process and optimize drilling and completion operations to ensure that the next round of wells are drilled on a more cost efficient basis. 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 drilling, spudding and interpreting data, 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 recent forms 10-KSB and 10-QSB filed with the SEC on Edgar. |
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