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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Andrew~ who wrote (9221)	9/18/2014 8:30:00 PM
From: longz	Respond to of 202737

still in MEI, come on im pullin for you!

To: Andrew~ who wrote (9221)	11/10/2014 6:43:35 AM
From: Goose94	Read Replies (1) \| Respond to of 202737

Manitok Energy (MEI-V) has provided a drilling and operational update at Entice and Cordel-Stolberg. Nov 10, '14 - NR Entice Manitok has drilled, completed and tested a 100% working interest horizontal well at 16-32-22-25W4, testing the Lithic Glauconitic ("Glauc") formation in the southern end of Manitok's Entice Land Base ("Entice"). This is the fourth well of a planned 10 horizontal well program in Entice. The well was completed with a 15 stage fracture completion and tested at an average flowing rate of 804 boe/d, composed of 321 bbls/d of 41 degrees API oil and 2.9 Mmcf/d of natural gas over 16.5 days. The average flowing rate for the well over the last 24 hours was 320 bbls/d of 41 degrees API oil and 3.2 Mmcf/d of natural gas. The cost to drill and complete the 16-32-22-25W4 well was approximately $2.4 million. The 16-32-22-25W4 well offsets the successful 100% working interest 15-32-22-25W4 Glauc well previously reported on August 28, 2014, which tested at an average flowing rate of 761 boe/d (328 bbls/d of 40 degrees API oil and 2.6 Mmcf/d of natural gas) over 6 days. The results from the above-noted well and the previously announced 15-32-22-25W4 well confirms the presence of 4 immediate offset Glauc locations and another 6 to 8 additional locations along the Glauc channel trend at the south end of Entice. Manitok successfully drilled another Glauc well at 102/5-21-25-24W4, in a different Glauc channel trend in the central part of Entice. Production testing is underway and results will be released when available. Manitok is currently drilling two other locations at Entice. The first location at 14-33-22-25W4, is targeting the middle Basal Quartz ("BQ") formation in the south end of Entice, which directly offsets the 3-28-22-25W4 middle BQ well ( tested at 205 boe/d, with 135 bbls/d, 30 degrees API oil, as press released on September 18, 2014) to the north and is on the same pad. The second location at 14-20-25-24W4, is targeting an upper BQ formation in the central part of Entice. Facility planning for the southern block is underway with battery and pipeline construction anticipated to be completed late in the fourth quarter of 2014. The three wells 15-32-22-25W4, 16-32-22-25W4 and 3-28-22-25W4 and any other wells drilled on the same two pads will be tied into third party gas processing facilities and the oil will be trucked to a third party terminal. Once the battery and the pipeline to the third party gas processing facility are in place, it is anticipated that subsequent wells drilled on the same pads can be placed on production in a much shorter timeframe than the first three wells. Cordel-Stolberg Well tie-in and facility work are complete and the behind pipe production at Stolberg was brought on stream October 24, 2014. This involves the four well pad mentioned in the August 28, 2014 press release which includes well locations 10-15-42-15W5, 16-16-42-15W5, 102/12-15-42-15W5 and 4-22-42-15W5. Based on field estimates, current corporate production, which is almost entirely from the Cordel-Stolberg field at this time, is approximately 4,800 net boe/d (58% oil and liquids). Further minor additions and optimization will continue at Cordel-Stolberg over the course of November 2014 and Manitok may realize approximately 250 net boe/d of additional production. Manitok tested the 5-14-42-15W5 horizontal Cardium oil well (30% working interest) at 337 boe/d (101 boe/d net) comprised of 313 bbls/d (94 bbls/d net) of 41 degrees API oil and 142 mcf/d (43 mcf/d net) of natural gas over a 12 hour period. Manitok will now commence drilling the 102/13-11-42-15W5 horizontal Cardium oil well (30% working interest) from the same pad. The pad is anticipated to be on production late in the fourth quarter of 2014. Manitok is also drilling a second horizontal Cardium oil well at 103/13-21-42-15W5 (33% working interest) which will further delineate the forelimb trend to the northwest. Once completed Manitok will release the drill rig. The well is anticipated to be on production late in the fourth quarter of 2014. On October 31, 2014, Manitok closed an acquisition of approximately 290 boe/d (15% oil and liquids) from a small private working interest owner in Stolberg for $7.5 million, prior to closing adjustments, with an effective date of October 1, 2014. According to a March 31, 2014 reserve report prepared by Sproule Associates Limited, the reserves associated with the acquisition are 393.3 Mboe on a proved basis and 541.5 Mboe on a proved plus probable basis. Based on US$84.00 WTI oil and $3.77 AECO natural gas prices, the operating netback is anticipated to be approximately $24.40 per boe. Manitok believes there is further upside in production and reserves based on operations undertaken in 2014 and through its capital spending plan for the area in 2015. 2014 Third Quarter Financial Report Manitok's 2014 third quarter report, with guidance update, will be issued prior to the market opening on November 17, 2014. A conference call to discuss the 2014 third quarter results will begin at 6:30 a.m. Mountain Time (8:30 a.m. Eastern Time) on the same day. To participate please dial 416-340-2216 (local) or 866-223-7781 (toll free in North America) or 800-6578-9898 (international toll free) 10 minutes prior to the scheduled start time.