News

Shale Energy Limited - Dorothy Well Completed and Producing

July 22nd, 2014

Dorothy 3-27 Completion

The Dorothy Well under the operation of S.M Energy, a NYSE listed oil and gas developer, has been completed, oil and gas sales have begun. The Dorothy is the first Williston Basin Three Forks formation well Shale Energy Limited has participated in. The location still holds reserve potential for Middle Bakken as well as further Three Forks completions. Initial oil flows have been encouraging with sales above 300 boed and rising as fluids are lifted off the formation. The results are in line with Shale Energy expectations in consideration of the far lower completion costs of Three Forks well in comparison to a Middle Bakken.

Yauch 03-04 Production Update

Since production began on the 28th of June daily flows have risen to over 1500 boed which has beaten Shale Energy's initial expectations.

Bakken - Position Update

Shale Energy Limited now has interests in 3 units in the Bakken/Three Forks each containing a producing well and therefore all Held By Production. Within these units there are; 14 permitted well locations; 14 well applications pending and at least 6 PUD locations that Shale Energy anticipates permitting and development in the future. Shale Energy Chairman Richard Pritchard stated 'the level of development in the Bakken is accelerating due to infill drilling, and we are looking at further means including a listing so as to maintain our capital expenditure program'.

Shale Energy Limited - Yauch 03-04 Comes Online with 1000 Barrels Oil

June 30th, 2014

Yauch 03-04 - Mckenzie County N.D

The well known as the Yauch 03-04-1H was set to production on the 28th June with initial 18 hour flow producing over 1000 barrels of oil. Shale Energy's Chairman Mr Richard Pritchard stated 'the flow rate indicates an initial production of approximately 1500 bo/d which is in line with our expectations'. The Operator will continue production and frac fluid recovery. Engineering suggests reserves sufficient for three more wells in the Bakken formation, Shale Energy will be able to participate in each well up to its acreage share.

Dorothy 3-27 Completion Update

The Dorothy 3-27HS under the operator S.M Energy, a NYSE listed oil and gas developer is nearing completion. SM Energy have stated they expect first oil flow in approximately one week. Engineering suggests reserves sufficient for three more wells in the Upper 3 Forks formation, Shale Energy will be able to participate in each well up to its acreage share.

Bakken - Position Update

Shale Energy Limited now has interests in 3 units in the Bakken/Three Forks containing two producing wells and one near completed, 14 permitted well locations, 14 further applications pending and at least 6 PUD locations that Shale Energy anticipates permitting and development in the future, all of which Shale Energy intends to participate in. The Chairman stated 'the level of development in the Bakken is tremendous, and we are seriously looking at means including a listing so as to maintain our capital expenditure program'.

Shale Energy Limited - Initial Gas Sales

May 15th, 2014

Bakken - Gas and NGL's Sales Contract

The Hawkeye 3-24H well was completed in May 2013 and has since produced over 300,000 Barrels of oil and 460,000 Mcf of gas to March 2014. With the completion of a gas pipeline Shale Energy has signed a gas and gas liquids sales contract with EOG the operator. Until April all gas was flared, this will add between 7-10% additional revenue from the existing well and will pave the way for the development of the further 14 wells to which Shale Energy can participate with EOG on this section. Shale Energy has a 3% interest.

Bakken - Dorothy 3-27HS Well

SM Energy has continued the development of the Dorothy 3-27HS well, having completed drilling earlier this month the well is now being lined and cemented, Shale Energy anticipates first production in late June. Shale Energy has a 1.5% interest.

Bakken - Yauch 03-04 Well

This well is expected to spud in the next few weeks with a total target length of 21,500ft and is expected to complete three months thereafter. Shale Energy has a 2% interest.

Shale Energy Limited - Drilling Update New Acreage Acquisition

May 2nd, 2014

Bakken - New Well Acreage

Shale Energy Limited has acquired acreage in McKenzie County, North Dakota, in the heart of the Bakken. This area is being heavily developed and the acreage is subject to participation in a well known as the Yauch 03-04-1H. Engineering suggests reserves sufficient for three more wells in the Bakken formation.

Bakken - Drilling Update

This week the Dorothy 3-27HS under the operator S.M Energy, a NYSE listed oil and gas developer has reached target depth of 18,000 feet. The next stage will be the setting of steel liners and grouting prior to formation fracturing, Shale Energy expects first production in late June.

Bakken - Existing Hawkeye Well

The Hawkeye 3-24H well was completed in May 2013 and has since produced over 320,000 Barrels of oil and 490,000 Mcf of gas. Shale Energy Limited has a right to participate up to its 3% interest in all 14 additional wells in both Middle Bakken and Three Forks formations approved for completion on this acreage.