Arkanova, through our subsidiary Provident Energy Associates of Montana, enters the completion phase after finishing the drilling, casing and cementing portion of the Tribal-Max 1-2817. The well was directionally drilled to a total depth of 6,808 ft. Approximately 2,700 ft landed within the Lower Cut Bank Sand and 91.7% of the lateral leg was placed in the target zone. The Tribal-Max 1-2817 is in the Two Medicine Cut Bank Sand Unit located at SE1/4 SW1/4 Section 28, T32N, R6W, P.M.M., Glacier County, Montana.

Provident Energy is currently working with Schlumberger on a completion program for the well. In addition, the company is implementing infrastructure upgrades to manage the initial production of the Tribal-Max 1-2817. As far as the vertical test of the lower targets, we anticipate the results of the logging and coring within the month.

Provident Energy operates the TMCBSU and was acquired by a subsidiary of Arkanova Energy Corporation in October, 2008.

Tags: Arkanova