Waldron Energy Corporation provide an operational update regarding the successful drilling and completion of a 60% working interest Crystal 1-32-44-3W5 horizontal Glauconite oil well (the "1-32 well"). With the success of the 1-32 well, the Corporation has now identified three prospective oil plays in the Crystal/Ferrybank area.

Over a three day period, the 1-32 well tested cumulative volumes of 950 barrels of light oil and 4.8 Mmcf of liquids rich natural gas (70 barrels of liquids per million cubic feet of gas). A pumpjack will be installed and the well is expected to be on production by the end of July 2012.

Tags: Waldron Energy Corporation