TSX.V: WVR   Last: $0.01   Chg: +0.000   Vol: 60000   Date: Aug 24, 2015
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Day Butte Project

Wind River Energy has 100% working interest in this 1,080 acre rich natural gas project in Wyoming. It has a one existing well, the Federal #1-17 well, which was originally drilled in 1986.  Wind River has permit approval for two additional wells, part of a 13 well program on the two locations that make up the Day Butte project.  The project was effectively endorsed for Wind River with the announcement that Encana, Noble Energy and ConocoPhillips are developing a total of 4,200 wells in a series of projects that surround Wind River's Day Butte project.

The first Day Butte well was originally completed in the lower six of twelve potentially productive zones. During the original completion of the well, the operator lost control of the well and it blew out at an estimated rate of 2 to 5 million cubic feet of gas per day. The operator regained control by "bullheading" heavy fluids into the well which damaged the zones that had been perforated and stimulated. As a result, the well has had a relatively poor production history from the lower six zones. Consequently, the Company acquired the project at a reasonable cost and placed the well back into production at an initial daily rate of 295 thousand cubic feet of gas per day ("MCFD") in September, 2010.

Wind River has assigned 13.5 probable and possible locations on Wind River’s acreage on 80 acre spacing locations.  Management estimates that the 13.5 wells could generate $60 million of present value (10% discount factor) at present gas prices, based on 50 billion cubic feet of gas.  The revenue number is further supported by the fact that the Day Butte project is a rich gas project, equating to a 15% price advantage per MCF sold.

Map of Wind River Energy Corp's Day Butte Project and surrounding projects operated by Encana and Noble.

Day Butte Project Map

Day Butte Project Map