Contact Exploration Inc. is pleased to announce that drilling commenced today on the CEX HZ 14-30-63-5W6 well, being the second well drilled by the Company on its Deep Basin Montney lands at Kakwa. The well is targeting the Montney Formation and is located approximately two miles from the Company’s initial Montney well, which tested at greater than 2,500 BOE/d. The new well is programmed for a total drilled length of 4,684 metres, including a
horizontal leg of 1,200 meters. Contact operates the well with a 25% working interest.
Contact anticipates that the drilling of this well will be finalized by October 2012, with well completion
(stimulation and testing) to be completed by November 2012. Additionally, the Company
confirms that the pipeline construction to tie-in the Company's initial well in the Kakwa area
continues, with anticipated construction completion by late September 2012.
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