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Post by Franko10 ™ on Feb 21, 2005 17:30:20 GMT -5
GOLDEN ARCH RESOURCES LTD. 8930 OAK STREET, VANCOUVER, BC V6P 4B7 (604) 266-9910 1-800-661-0091 Fax: (604)266-5000 E-mail: safeenv@direct.ca NEWS RELEASE Symbol: GAI (CDNX) Exemption 12g3 - 2(b) O.T.C. GARC-F SEC File # 82-659
May 14, 2001 Completion operations ahead of schedule on Wimberly #7 Vancouver, BC Further to Company news release dated April 23, 2001 Golden Arch Resources Ltd is pleased to report completion operations are proceeding ahead of schedule on its Wimberly #7 well located in Jack County, Texas. A 200 foot thick Barnett Shale interval was fracture treated on May 11, 2001. Next day, results were very encouraging in that the well had a 4' flare while flowing back the frac fluid with only 9.8% of the load recovered. Today, there is 10' flare with a flowing casing pressure of 175 PSIG and 21% of the frac load recovered. The significance of results to date are that, typically, gas is not normally seen in a Barnett Shale well until 30% of the frac load is recovered. The well is being be hooked up to a nearby pipeline. 4 Point Flow test results will be announced when received. Subject to regulatory approval, the Company has agreed to pay $13, 147 US dollars drilling and completion costs and 200,000 shares. The Company has agreed to acquire a 4% working interest. The Company will receive 3.2% of net revenues after payout. For further information on this news release please contact Richard J. Watson 1-800-661-0091, On behalf of the Board of Directors of Golden Arch Resources Ltd. "Richard J. Watson" Director
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